July 1, 2017 8:28 PM

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Govt tracked over three lakh companies indulged in suspected financial dealings: PM

Prime Minister Narendra Modi said, the government has tracked over three lakh companies, which have indulged in suspected dealings. Speaking at the Chartered Accountants Day function in New Delhi , Mr. Modi on Saturday said, the government has data mined the flow of funds to banks after the announcement of demonetization. <br/><br/>Mr. Modi said, the Registrar of Companies has cancelled registration of over one lakh shell companies, and identified 37,000 companies,which were found to be indulging in suspected financial dealings. The Prime Minister said, his government is committed to more tough action against firms helping in hiding black money, without its political implications. <br/><br/>Modi said, it requires courage of political leadership and intention of the government to clean up the economy. He said, action will also be taken against financial advisers, who help evasion of taxes.

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