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Andhra Pradesh: 5,023 persons stripped of corporate identities

The action comes after they were found guilty of not filing annual returns and balance sheets for the last three years.

Written by Rahul V Pisharody | Hyderabad | Updated: December 10, 2019 9:29:52 pm
itr filing, itr filing last date, itr filing last date 2019, income tax return, income tax return 2019, itr forms, itr forms online, income tax return online, income tax return filing, income tax return last date, income tax return filing last date, income tax return filing 2019 20, itr filing 2019, itr filing 2019 20, itr filing last date 2019 20, itr filing status, itr filing online, itr filing last date, itr filing process, itr filing refund status, indian express news According to officials, the directors’ Director Identification Number has been disqualified for a period between November 1, 2018 and October 31, 2023.

As many as 5,023 persons, directors of various companies registered in Andhra Pradesh, have been barred from their corporate life for the next five years by the Ministry of Corporate Affairs (MCA).

The action comes after they were found guilty of not filing annual returns and balance sheets for the last three years. According to officials, their Director Identification Number (DIN) has been disqualified for a period between November 1, 2018 and October 31, 2023.

According to an MCA list of disqualified directors, their DINs have been disqualified for violation of 164 (2) (a) of the Companies Act, 2013.

“They are disqualified from all the companies where they are Directors and they cannot be Directors in any new company during the disqualification period. Their DINs have been deactivated. All the details have been put on http://www.mca.gov.in,” said a source.

“In spite of disqualification, if a person continues as Director on paper, it could invite a jail term up to one year and a fine which shall not be less than Rs 1 lakh but can extend to Rs 5 lakh,” added the source.

Similarly, earlier in the first three weeks of November 2019, the Registrar of Companies (ROC)-Andhra Pradesh, struck off as many as 971 companies and the MCA froze their bank accounts in “real-time” after coordinating with the Reserve Bank of India and Indian Bankers Association.

A gazette notification was issued and on the same day and the bank accounts linked to PAN were frozen across the country, said the source.

The companies were struck off for not having filed their returns for two years, whereas directors have been disqualified for not filing returns for three years. “These could be mutually exclusive,” the source said.

In most cases, these companies existed only on paper and the action was taken as part of a pan-India drive. It was the first time ROC Andhra Pradesh took up such a drive.

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