The Central Government has instructed to shut down 3,348 registered companies of Assam which have not presented financial reports under company law and have not paid the annual tax.
Union Finance and Corporate Affairs Minister Nirmala Sitharaman said that the Central government has cancelled the registration of 6,83, 317 companies in India out of which 3,348 companies in Assam are instructed to shut down.
The Central government under Section 248 (1) of Companies Law Act has instructed all the states to start an operation of the private companies and in the operation it has come to light that many registered companies have violated the rules and regulations of the Companies Law Act and one such rule is that the companies have not produced proper documentation on finance to the centre. It has also been found that most of the companies have not paid the annual tax which shows that they have done many financial irregularities.
Based on these reports, the finance and corporate affairs ministry has instructed to close down many companies which also includes more than 3000 companies of Assam.