(MENAFN- IANS) New Delhi, Dec 1 (IANS) The government has identified and struck off 1,85,350 companies, found not carrying on any business or operation, during the last five years (till July 16, 2025), the Parliament was informed on Monday.

In the current fiscal (FY26), 8,648 such companies have been struck off under section 248 of the Companies Act, 2013, Minister of State for Corporate Affairs Harsh Malhotra informed the Lok Sabha.

"From time to time, this Ministry carries out Strike-Off drive under section 248(1) for striking off such companies which are not carrying on any business or operation for a period of two immediately preceding financial years and have not made any application within such period for obtaining the status of a dormant company under section 455 of the Act...” he said.

Further, under section 248(2) of the Companies Act, 2013, such companies which voluntarily seek removal of their name from the Registrar of Companies after extinguishing all their liabilities are struck off by following due process in the prescribed manner.

The Companies Act, 2013, and rules made thereunder contain adequate provisions for ensuring accountability and transparency in the management of companies. It provides for accountability for the management of companies through key managerial personnel, the Board of Directors, and shareholders.

On the question of whether the government proposes to strengthen inter-agency coordination with the Enforcement Directorate (ED) and the Income Tax Department for monitoring companies found involved in money laundering or tax evasion, the minister said: "Yes, whenever such instances are reported, the same are shared with other government agencies for monitoring such activities."

The government also informed that 87 illegal loan lending applications have been blocked after following the due process.

"So far, after following the due process, MeitY has blocked a total of 87 illegal loan lending applications under section 69A of the Information Technology Act 2000," said Malhotra.

The regulatory action for inquiry, inspection of books of accounts and investigation under the Companies Act, 2013, is taken from time to time against companies, including the ones indulged in online lending activities through loan apps, he added.

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