Debarred directors’ names made public

Intensifying its crackdown on shell companies and their operators, the government has made public names of over 55,000 directors linked to such firms to ensure they do not get associated with similar roles again. More such names will be published soon as the government has already iden- tified over 1.06 lakh directors for their association with shell firms which are either yet to commence any business or have failed to submit their financial statements or annual returns for three straight years. More than two lakh such companies have already been struck off the register of the companies with various ROCs (Registrar of Companies).

As per the public notices issued by different ROCs, the names have been made public so far for more than 24,000 such shell companies from the Chennai region, as also of over 12,000 each from Ahmedabad and Ernakulam.

Besides, similar lists of thousands of directors have been made public by the ROCs in Cuttack, Goa and Shillong, among others. However, ROCs in Delhi, Mumbai and Chandigarh are yet to publish such lists. Several of these names could also be linked to various political and corporate groups, but it could not be ascertained immediately as most of the lists only contain the names of directors and their DINs (Director Identification Numbers) and not any specific personal details. However, addresses were also mentioned for some. Earlier this month, the government had said more than 1.06 lakh directors will be disqualified for their association with shell companies.