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
5.8 -0.0
Consumer Sentiments Index
Base September-December 2015
92.6 +0.2
Consumer Expectations Index
Base September-December 2015
91.9 +0.3
Current Economic Conditions Index
Base September-December 2015
93.7 0.0
Quarterly CapeEx Aggregates
(Rs.trillion) Mar 17 Jun 17 Sep 17 Dec 17
New projects 4.06 2.14 1.22 1.12
Completed projects 1.96 0.86 1.05 0.92
Stalled projects 0.74 2.67 0.67 0.93
Revived projects 0.86 0.30 0.29 0.23
Implementation stalled projects 0.33 0.69 0.73 0.58
Updated on: 23 Feb 2018 9:20AM
Quarterly Financials of Listed Companies
(% change) Mar 17 Jun 17 Sep 17 Dec 17
All listed Companies
 Income 10.2 9.7 7.9 11.9
 Expenses 11.9 10.0 9.0 12.9
 Net profit 16.4 -19.7 -16.8 -12.3
 PAT margin (%) 6.0 5.3 5.7 5.0
 Count of Cos. 4,472 4,460 4,439 4,279
Non-financial Companies
 Income 11.8 10.3 7.7 12.7
 Expenses 15.6 10.6 7.5 11.8
 Net profit -2.2 -25.2 -4.2 13.3
 PAT margin (%) 6.1 5.2 6.4 6.6
 Net fixed assets 6.9 9.2
 Current assets 2.7 78.8
 Current liabilities 8.9 11.0
 Borrowings 4.9 10.5
 Reserves & surplus 6.1 5.2
 Count of Cos. 3,455 3,444 3,418 3,326
Numbers are net of P&E
Updated on: 23 Feb 2018 9:20AM
Annual Financials of All Companies
(% change) FY14 FY15 FY16 FY17
All Companies
 Income 10.0 5.4 1.5 6.8
 Expenses 9.9 5.5 1.7 7.1
 Net profit -2.5 0.3 -12.9 22.1
 PAT margin (%) 3.1 3.1 2.8 5.3
 Assets 12.3 9.5 10.1 8.3
 Net worth 9.7 8.5 11.7 7.4
 RONW (%) 6.1 5.9 4.9 7.9
 Count of Cos. 24,633 24,657 22,529 10,919
Non-financial Companies
 Income 9.7 4.6 0.6 6.7
 Expenses 9.4 4.8 0.0 7.6
 Net profit -3.1 -8.1 13.2 15.9
 PAT margin (%) 2.2 2.0 2.5 4.9
 Net fixed assets 11.7 13.3 17.4 7.2
 Net worth 8.3 6.9 12.4 5.4
 RONW (%) 5.0 4.7 5.1 8.5
 Debt / Equity (times) 1.1 1.1 1.0 0.8
 Interest cover (times) 2.0 1.9 1.9 2.7
 Net working capital cycle (days) 69 67 65 52
 Count of Cos. 19,858 20,066 18,861 8,566
Numbers are net of P&E
Updated on: 21 Feb 2018 10:31AM

Data added for HPI at Assessment prices and HPI at Market prices