The Ministry of Company Affairs is actively pursuing the cases relating to the vanishing companies. SEBI, RBI and other concerned agencies have been involved. The Ministry has set up a Monitoring Committee on Vanishing Companies. It is co-chaired by the Ministry’s Secretary and the Chairman of SEBI. Another Monitoring Committee was set up in August, 2004 to pursue the FIRs against the vanishing companies and their promoters or directors. This Committee is also to be jointly headed by the Ministry’s Secretary and SEBI’s Chairman. The other members of the Committee are the Chief Secretaries of the State Governments of West Bengal, Maharashtra, Tamil Nadu, Andhra Pradesh, Gujarat and the Police Commissioner of Delhi. SEBI’s representative is to be the Committee’s Member-Secretary.
(Release ID :4300)