The Ministry of Company Affairs received altogether 12283 complaints against defaulting companies from shareholders and members of public in 2002-03. The number of complaints received in the previous year was 12245.
The Ministry considered 18184 complaints including 5901 brought forward from the previous year. Of these, action was taken on 8746 complaints after necessary scrutiny and inquiry. The number of pending complaints remained 9538 at the end of the year.
The nature of complaints varied. These included non-payment to the depositors by the defaulting companies, embezzlement and fraud, non-issue of share certificates, non-receipt of balance sheets, non-registration of transfer of shares and non-payment of dividend. The Registrar of Companies, Andhra Pradesh, received the highest number of 1809 complaints up to March 31, 2003. The Registrars of Companies of Maharashtra, Tamil Nadu, Delhi, Rajasthan and Gujarat received 1634, 1026, 687, 646 and 434 complaints respectively in the same period.
As of today, there are 117 vanishing companies in the Ministry’s records.
(Release ID :3850)