- Out of 15 lakh registered companies 8-9 lakh don't file tax returns
- Such companies are potential threat for money laundering: Hasmukh Adhia
- Prime Minister's Office monitoring these companies every 15 days
"There are 15 lakh registered companies... as many as 8-9 lakh are not filing annual returns with the corporate affairs ministry. They have become a potential threat for money laundering," he said.
He also said that if companies do not file returns after getting registered with the MCA, then these are used as potential source of money laundering. "We have given notices to some of them," he said, adding that the task force co-chaired by him and the MCA Secretary is keeping a close watch on them.
According to Mr Adhia, trade-based money laundering is also getting prominent these days as was witnessed in the Rs 6,000-crore Bank of Baroda case.
In a major crackdown on domestic shell companies, the government in February decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.