Black money: Government gets info on suspicious transactions from banks
NEW DELHI: The government said on Friday that 13 banks have provided information on post note-ban transactions+ by 5,800 dubious companies.
It further said that over Rs 4,574 crore has been deposited since demonetisation in the 13,140 bank accounts of these coThe government said that the information on these companies has come from the first installment of data provided by banks on about 2,09,032 suspect companies that were struck off the Register of Companies earlier this year. The operation of the bank accounts of these companies have been restricted since then.
The data submitted by the banks reveals that some of these companies have been found to have more than 100 accounts to their names. One of these dodgy companies has as many as 2,134 accounts. Most others have between 300 and 900 accounts.
According to data provided by the banks, these companies had a balance of Rs 22.05 crore on November 8, 2016, the day the note ban was announced. However, from November 9, 2016, until they were struck off, these companies deposited a total Rs 4,573.87 crore in their accounts and withdrew Rs 4,552 crore. In the case of loan accounts, there was a negative opening balance of Rs 80.79 crore.
The government found that companies that had multiple accounts+ with miniscule or negative balance on November 8, 2016, deposited and withdrew amounts in the crores from these accounts. The accounts were then again left dormant with paltry balances.
Most of the companies carried out these transactions until they were struck off. However in some cases, a few companies made deposits and withdrawals even after being struck off.
In an example furnished by the government, in one of the banks, 429 companies with zero balance each on the day of the note ban, deposited and withdrew a total of over Rs 11 crore, leaving them with a cumulative balance of Rs 42,000 on the date they were struck off.
The government has found more than 3,000 companies with multiple accounts. From having a cumulative balance of about Rs. 13 crore last November 8, these companies have deposited and withdrawn about Rs 3,800 crore, leaving a negative cumulative balance of almost Rs 200 crore at the time of freezing of their accounts.
The government said that this data is only from about 2.5 per cent of the total number of dubious companies that have been struck off . The government has asked investigative agencies to complete the probe swiftly.
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