Vanishing Companies
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The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabhathat 238 Companies have been identified as vanishing companies. Companies which had raised funds through Initial Public Offer were identified as Vanishing Company for (i) non maintaining of their registered office; (ii) non- traceability of directors(iii) non- filing of statutory returns/ listing requirements with the concerned Registrar of Companies / Stock Exchange for a period of 2 years. Out of 238 companies identified as vanishing companies, 119 companies have now become regular in filing their returns with the concerned Registrar of Companies. In addition, 32 companies have gone into liquidation. Thus, as on date, there are 87 companies which still remain identified as vanishing companies. The State-wise list of 87 vanishing companies is enclosed as Annexure I. 86 Prosecutions under Section 63/ 68 and 628 of the Companies Act, 1956 for mis-statement in the prospectus, fraudulently inducing persons to invest money and for false statement etc were filed against the company and its directors. Besides, 82 FIRs were also lodged with the Police to trace out the whereabouts of the companies and their directors. The Minister was replying to a written question on the total number of companies which were identified as vanishing companies; identified the reasons for working of vanishing companies; the number of vanished companies which were found working in the country at present, State-wise; and the action taken against the promoters/ directors in these companies? ***** ST/- Annexure-I List of Vanishing Companies (State-wise) S. No. Name of the Vanishing Company State 1. Aashi Industries Ltd (Formerly known as Aashi PharmachemLtd) Gujarat 2. Bhavna Steel Cast Ltd. Gujarat 3. Citizen Yarns Ltd. Gujarat 4. Cromakem Ltd Gujarat 5. Frontline Financial Services Ltd. Gujarat 6. Genuine Commodities Development Co. Ltd. Gujarat 7. Girish Hotels Resorts and Health Farms Ltd. Gujarat 8. Growth AgroIndustries Ltd. Gujarat 9. Kesar Greenfield International Ltd Gujarat 10. Lyons Industrial Estate Enterprises Ltd (formerly known as Lyons Range Finance Ltd.) Gujarat 11. Manav Pharma Ltd. Gujarat 12. Marine Cargo Company Ltd. Gujarat 13. Naisargik Agritech (India) Ltd. Gujarat 14. Naturo Pest Ltd. Gujarat 15. Nishu Fincap Ltd. (Formerly known as Medha Finance & Securities Ltd.) Gujarat 16. Pur Opale Creations Ltd (formerly known as NulineGlassware (India) Ltd.) Gujarat 17. Protech Circuit Breakers Ltd. Gujarat 18. Protech Switchgears Ltd. Gujarat 19. Shree Yaax Pharma & Cosmetics Ltd. Gujarat 20. Shreeji Dyechem Ltd. Gujarat 21. Shri Mahalaxmi Agricultural Developments Co. Ltd. Gujarat 22. Spil Finance Ltd. Gujarat 23. Super Domestic Machines Ltd. Gujarat 24. Sushil Packagings (India) Ltd. Gujarat 25. Tirth Plastics Ltd. Gujarat 26. Topline Shoes Ltd Gujarat 27. Aditya Alkaloids Ltd. Andhra Pradesh 28. Canara Credit Ltd. Andhra Pradesh 29. Daisy Systems Limited Andhra Pradesh 30. Imap Technologies Limited Andhra Pradesh 31. Kamakshi Housing Finance Ltd. (Presently known as KishaImpex Ltd. Andhra Pradesh 32. Deccan Petroleum Ltd. Andhra Pradesh 33. Orpine Systems Limited Andhra Pradesh 34. Chhakri Tyres & Tubes Ltd. or Rhino Tyres Ltd. (Presently known as Raam Tyres Ltd.) Andhra Pradesh 35. Sequel Soft India Limited Andhra Pradesh 36. Sibar Media & Entertainment Limited Andhra Pradesh 37. Sibar software services India) Ltd Andhra Pradesh 38. Swal Computers Ltd Andhra Pradesh 39. Visie Cyber Tech Ltd. Andhra Pradesh 40. Ambuja Zinc Ltd. Bihar 41. Bodh Gaya Ceramics Ltd. Bihar 42. Cilson Organics Ltd. Bihar 43. Shree Vaishnavi Printing and Dyeing Ltd. Bihar 44. Carewell Hygiene Products Ltd Chandigarh 45. Sukhchain Cements Ltd. (formerly known as GanapatiCements Pvt. Ltd.) Chandigarh 46. Category : Corporate Law |
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