Govt asked to attach MSWDCL's assets
Source: The Sangai Express

Imphal, September 27 2017: As a part of the country-wide initiative to attach immovable assets of companies and corporations which are defunct and exist just for name's sake, the State Government has been asked to attach assets registered in the name of Manipur State Women's Development Corporation Limited (MSWDCL) .

The Ministry of Corporate Affairs has already initiated due procedures to take up stringent actions against 2,09,032 companies/corporations which are either defunct or paralysed .

These companies/corporations have been already categorised as 'suspected/shell' companies and the Ministry has directed Registrars of Companies to take up necessary action under the Section 248 (5) of the Companies Act 2013 .

Names and other details of these defaulting companies have been published in the Government's gazette and the same have been uploaded in the Ministry's website .

Out of the more than two lakh companies/corporations which have been listed as 'suspected/shell' companies, there are some based in Manipur and they include Manipur State Women Development Corporation Limited, Shija Construction Private Limited, Bijoy and Sons Private Limited, Hi-Tech Auto Finance Private Limited, KAI Services Private Limited, LE Export and Import Private Limited, RR Vigil System and Services Private Limited etc, informed a source .

The Ministry of Corporate Affairs has already written to the State Government to take up befitting action against these companies.

Apart from banning these companies with immediate effect, Certificates of Incorporation issued to them have also been cancelled .

Moreover, bank accounts opened in the name of these companies have been frozen and transfer of movable as well as immovable assets registered in the names of these companies has been prohibited
The Ministry has further instructed the State Government to attach all the assets of these companies and keep them in the custody of the Deputy Commissioners concerned.

However, it is not yet clear if the State Government has initiated any action corresponding to the Ministry's instruction, added the source.

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