The Ministry of Company Affairs has advised each State Government to notify one nodal officer of a sufficiently senior level to review the action and follow-up in cases relating to the directors/promoters of vanished companies. This is intended to protect the investors who loose their money at the hands of the unscrupulous elements. The nodal officers are expected to hold review meetings on a monthly basis. The Registrars of Companies would be attending these review meetings to provide all necessary inputs and relevant documents available with them to assist the investigating agencies in carrying forward their job.
SMK/ls
(Release ID :9012)