Things are getting worse for black money hoarders.
As many as 13 banks have submitted the first installment of their reports regarding bank account operations and post-demonetization transactions of some of the 2,09,032 suspicious companies that had been struck off the Register of Companies earlier this year.
It may be recalled that after being struck off, the operation of the bank accounts of these 2,09,032 suspicious companies was restricted to the discharge of their liabilities.
The data submitted by the 13 banks are related to about 5,800 companies (out of more than 2 lakh that were struck off) involving 13,140 accounts. This in itself is a revealing figure as some of the companies have been found to have more than 100 accounts to their names. The highest grosser among these is a company having 2134 accounts, followed by others having accounts in the range of 900, 300 etc.
The data pertaining to the pre demonetization account balances and transactions conducted from the accounts of these companies during the demonetization period is even more startling.
It is reported that, after separating the loan accounts, these companies had a meager balance of Rs 22.05 crore to their credit on 8th November 2016.
However, from 9th November 2016 i.e. after the announcement of demonetization, till the date of their being struck off, these companies have altogether deposited a huge amount of Rs. 4,573.87 crore in their accounts and withdrawn an equally large amount of Rs 4,552 crore. With loan accounts, there was a negative opening balance of Rs 80.79 crore.
In some cases, certain companies turned more adventurous and made deposits and withdrawals even after being struck off.
For example, in one of the Bank, 429 companies which had zero balance each as on 8th November 2016 deposited and withdrew over Rs 11 crore and left again with a cumulative balance of just Rs 42,000 as on the date of freezing.
Similarly, in the case of another Bank, more than 3,000 such companies, most having multiple accounts, have been located. From having a cumulative balance of about Rs. 13 crores as on 8th November 2016, these companies deposited and withdrew about Rs 3,800 crore, leaving a negative cumulative balance of almost Rs 200 crore at the time of freezing of their accounts.
It may be noted that this data is only about 2.5% of the total number of suspected companies that have been struck off by the Government. The huge money game played by these companies may well be the tip of an iceberg of corruption, black money and black deeds of these and many more of their brethren.
The investigative agencies have been asked to complete necessary investigation in a time-bound manner.
Govt. smoking out black money operators
By IndianMandarins - 2017-10-06 12:45:22
Things are getting worse for black money hoarders.
As many as 13 banks have submitted the first installment of their reports regarding bank account operations and post-demonetization transactions of some of the 2,09,032 suspicious companies that had been struck off the Register of Companies earlier this year.
It may be recalled that after being struck off, the operation of the bank accounts of these 2,09,032 suspicious companies was restricted to the discharge of their liabilities.
The data submitted by the 13 banks are related to about 5,800 companies (out of more than 2 lakh that were struck off) involving 13,140 accounts. This in itself is a revealing figure as some of the companies have been found to have more than 100 accounts to their names. The highest grosser among these is a company having 2134 accounts, followed by others having accounts in the range of 900, 300 etc.
The data pertaining to the pre demonetization account balances and transactions conducted from the accounts of these companies during the demonetization period is even more startling.
It is reported that, after separating the loan accounts, these companies had a meager balance of Rs 22.05 crore to their credit on 8th November 2016.
However, from 9th November 2016 i.e. after the announcement of demonetization, till the date of their being struck off, these companies have altogether deposited a huge amount of Rs. 4,573.87 crore in their accounts and withdrawn an equally large amount of Rs 4,552 crore. With loan accounts, there was a negative opening balance of Rs 80.79 crore.
In some cases, certain companies turned more adventurous and made deposits and withdrawals even after being struck off.
For example, in one of the Bank, 429 companies which had zero balance each as on 8th November 2016 deposited and withdrew over Rs 11 crore and left again with a cumulative balance of just Rs 42,000 as on the date of freezing.
Similarly, in the case of another Bank, more than 3,000 such companies, most having multiple accounts, have been located. From having a cumulative balance of about Rs. 13 crores as on 8th November 2016, these companies deposited and withdrew about Rs 3,800 crore, leaving a negative cumulative balance of almost Rs 200 crore at the time of freezing of their accounts.
It may be noted that this data is only about 2.5% of the total number of suspected companies that have been struck off by the Government. The huge money game played by these companies may well be the tip of an iceberg of corruption, black money and black deeds of these and many more of their brethren.
The investigative agencies have been asked to complete necessary investigation in a time-bound manner.
