The government on Wednesday decided to bar as many as 300,000 directors of companies that have defaulted on statutory compliances from serving on the boards of other firms to improve corporate governance and check financial irregularities through the use of shell companies. The ministry of corporate affairs, which regulates unlisted companies, also decided to track down the beneficial owners of suspected shell companies and take penal action ...
09-15-2017, 07:23 AM
Govt blacklists 300,000 directors
The government on Wednesday decided to bar as many as 300,000 directors of companies that have defaulted on statutory compliances from serving on the boards of other firms to improve corporate governance and check financial irregularities through the use of shell companies. The ministry of corporate affairs, which regulates unlisted companies, also decided to track down the beneficial owners of suspected shell companies and take penal action ...
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