MCA disqualifies 106,578 directors associated with shell companies

Members of ICAI, ICSI also being monitored

by Arjit Singh Bhambra

The ministry of corporate affairs (MCA) has identified 106,578 directors for disqualification under Section 164(2)(a) of the Companies Act, 2013 as on 12 September 2017. The disqualified directors will be prohibited from joining any company’s board for a period of five years. The ministry has also initiated action against certain members of the Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI), and other such associations involved with shell companies. The ministry is further assessing data available with the Registrar of Companies to identify significant beneficiaries of the shell companies. According to the MCA, this will help in creating an atmosphere of confidence and faith while facilitating the ease of doing business in the country.

References
1. http://pib.nic.in/newsite/erelcontent.aspx?relid=170719
CMIE STATISTICS
Unemployment Rate
Per cent
5.1 +0.1
Consumer Sentiments Index
Base September-December 2015
95.4 0.0
Consumer Expectations Index
Base September-December 2015
95.4 0.0
Current Economic Conditions Index
Base September-December 2015
95.5 0.0
Quarterly CapeEx Aggregates
(Rs.trillion) Jun 17 Sep 17 Dec 17 Mar 18
New projects 2.40 1.35 1.30 2.42
Completed projects 0.87 1.22 1.06 1.27
Stalled projects 2.67 0.69 0.95 3.35
Revived projects 0.23 0.34 0.22 0.18
Implementation stalled projects 0.77 0.78 0.59 1.05
Updated on: 27 May 2018 4:20PM
Quarterly Financials of Listed Companies
(% change) Jun 17 Sep 17 Dec 17 Mar 18
All listed Companies
 Income 9.6 7.9 11.9 11.9
 Expenses 9.9 9.0 13.0 18.9
 Net profit -19.8 -18.1 -14.7 -83.2
 PAT margin (%) 5.3 5.5 4.8 1.1
 Count of Cos. 4,499 4,486 4,449 1,647
Non-financial Companies
 Income 10.2 8.2 13.2 13.6
 Expenses 10.5 8.1 12.4 14.0
 Net profit -25.1 -6.0 12.7 5.3
 PAT margin (%) 5.2 6.2 6.4 7.9
 Net fixed assets 9.2 14.5
 Current assets 78.6 10.4
 Current liabilities 11.0 11.0
 Borrowings 10.4 -4.4
 Reserves & surplus 5.2 10.6
 Count of Cos. 3,472 3,458 3,445 1,306
Numbers are net of P&E
Updated on: 27 May 2018 4:20PM
Annual Financials of All Companies
(% change) FY15 FY16 FY17 FY18
All Companies
 Income 5.6 1.8 5.5 3.6
 Expenses 5.7 1.9 5.5 2.8
 Net profit 0.0 -10.0 25.8 9.8
 PAT margin (%) 3.1 2.8 3.6 10.0
 Assets 9.5 10.1 7.1 7.1
 Net worth 8.5 11.3 6.6 5.1
 RONW (%) 5.8 4.9 6.0 15.5
 Count of Cos. 25,791 23,882 21,156 37
Non-financial Companies
 Income 4.8 0.9 5.3 3.0
 Expenses 5.0 0.3 5.6 2.0
 Net profit -8.2 19.0 20.5 10.6
 PAT margin (%) 2.0 2.4 3.0 8.7
 Net fixed assets 13.4 17.3 6.1 2.7
 Net worth 7.0 12.0 5.3 3.6
 RONW (%) 4.7 5.2 6.1 17.0
 Debt / Equity (times) 1.1 1.1 1.0 0.2
 Interest cover (times) 1.9 1.9 2.1 16.2
 Net working capital cycle (days) 66 65 62 27
 Count of Cos. 21,034 19,996 17,659 28
Numbers are net of P&E
Updated on: 20 May 2018 10:09PM

Time-series available from 2007-08 onwards