3 lakh cos under scanner after note ban; strict action to follow: PM

New Delhi: Prime Minister Narendra Modi today said 37,000 shell companies had been identified and three lakh companies were under scanner since demonetisation and strict action will be taken in case they were found violating the law.

Speaking at the The Institute of Chartered Accountants of India(ICAI) function here, the Prime Minister said, 'Three lakh companies are under scanner and one lakh companies have been removed from the Registrar of Company 48 hours ahead of national introduction of GST in the country.” The government has removed one lakh companies from the Registrar of Company (RoC) 48 hours ahead of national introduction of GST in the country, which is being seen as a biggest fiscal reform since the Independence.

Commenting on the action taken against shell companies, the Prime Minister said, “The decision to remove one lakh companies from RoC can only be taken by the person who thinks of national interest. Those who think through the prism of politics couldn’t have taken this action.” He also assured the nation that the government will not stop itself from coming down against those companies. “Their days are numbered and in the days to come we will take more action.” Mr Modi said he will continue the surgical strike against the black money. (UNI)