The latest decision is actually part of the Indian government’s ongoing crackdown on corruption and black money, post-demonetisation in November 2016.
A senior official said “the government is committed to curbing the menace of black money and deregistering of these companies is taken in the interest of the country.
“For various non-compliances, around 120,000 more companies have been identified for striking-off,” the Indian corporate affairs ministry said.
More than 200,000 firms had been struck off from the register of companies till December 2017 for various non-compliances and being inactive for long.
Indian Prime Minister, Narendra Modi, had in a sudden televised address on Nov. 8, 2016, announced the scrapping of higher denomination currency notes.
The aim was to curb the menace of black money and prevent the circulation of fake currency notes among terrorists, the government then said.
