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The four task forces to track the vanishing companies are doing their job well. The Ministry of Company Affairs had constituted the task forces headed by the respective regional directors to trace the vanishing companies and their promoters for taking necessary action against them. Their progress is monitored jointly by the Secretary, Ministry of Company Affairs and Chairman, SEBI. So far, First Information Reports (FIRs) have been filed against the directors of 104 vanishing companies. For tracing the whereabouts of the vanishing companies, the matter has been taken up with the concerned passport offices and other authorities. Petitions have also been filed with the Company Law Board under various Sections of the Companies Act in respect of two vanishing companies.
So far, the Ministry has received 262 complaints from the investors against these vanishing companies.
SMK/ls
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