There are 53 Chinese foreign companies, which
have established a place of business in Bharat, but there is no specific data
maintained about details of business activities related to providing loans
through apps by these firms, said the Corporate Affairs Ministry on Monday.
A foreign company (incorporated outside Bharat)
can establish a place of business in the country after complying with the
requirements of RBI regulations and other sectoral requirements, wherever
applicable.
Within 30 days of the establishment of
such an office, it has to seek registration with the Registrar of Companies
(RoC) (Delhi & Haryana) under Section 380 of the Companies Act, 2013.
In a written reply to the Lok Sabha,
Minister of State for Corporate Affairs Rao Inderjit Singh said as per
information available, there are 53 Chinese foreign companies have established
a place of business in Bharat.
“However, no specific data is maintained
about the details of business activities related to providing loans through
apps by these companies,” he added.
To another query, the minister said
there is no definition of the term ‘shell company’ under the Act.
An RoC can remove a company’s name from
the official records on various grounds, including that if the company fails to
commence its business within one year of incorporation.
Another reason can be that the company
is not carrying on any business or operation for a period of two immediately
preceding financial years (has not filed their financial statements and annual
returns for a continuous period of two immediately preceding financial years), said
Singh.
Also, a company’s name can be struck off
if it has not made any application within such period for obtaining the status
of a dormant company.
“The Registrar of Companies removes name
after following the due procedure given in the rules. During the period from April
1, 2021 to November 28, 2023, a total of 1,55,217 companies have been struck
off under Section 248 (1) of the Companies Act, 2013,” said Singh.
PTI
