Deregistered companies to face charges for violating taxation and money laundering

Nearly 1 lakh companies have been de-registered, including action against those for violating taxation and money-laundering laws as well as choking their access to banking.

While the MCA has acted against them for not filing returns, it is now going to approach banks with the list of companies where action has been taken to ensure that they are unable to operate their bank accounts or access loans.

“In the past, we noticed that some of the de-registered companies continued to enjoy access to banking services due to lack of information flow. We want to prevent that, otherwise the whole purpose will be defeated,” said a source.