HOW IT UNFOLDED

Task under Forcethe jointon Shell chairmanship Companies,of Revenue Ministry Secretaryof Corporateand Secretary,Affairs, constituted in Feb 2017 Around 2.17 lakh companies struck off under Section 248( 5) of the Companies Act, 2013, in July Sebi directed stock exchanges to initiate action against 331 suspected shell companies and bar them from trading on the basis of data received from MCA SAT comes to the rescue of many companies, stays ban on trading Govt disqualifies 3.20 lakh directors of the defaulting companies and asks banks to restrict operations of bank accounts of such directors Govt receives information from 13 banks about financial transactions of 5,800 companies in October