India’s Modi says cancelled registration of 100,000 companies
India has cancelled the registration of more than 100,000 companies which were “in violation of laws”, Prime Minister Narendra Modi said, in the latest effort by the government against “black money” and tax evasion. The decision was taken based on an extensive data analysis conducted by the government after Modi in November announced a sudden ban on high-value currency banknotes. More than 300,000 firms had come under scanner for irregular transactions following the banknote ban, while licences of more than 100,000 firms had been cancelled, Modi said, without naming any company.
Source:: https://finance.yahoo.com/news/indias-modi-says-cancelled-registration-053104650.html
