Action against 226 fake companies taken-PC Gupta

Jaipur, May 10 (UNI) The Ministry of Company Affairs had initiated action against 226 fake companies, directors and promoters who had allegedly duped a large number of investors, Union Company Affairs Minister Prem Chand Gupta said.

Talking to reporters here today, Mr Gupta said that a number of fake companies had succeeded in duping investors after getting listed under fictitious names of the firm and its directors and promoters.

He said that the government had been taking stern action against such companies. As many as 226 companies had been identified, around 100 FIRs had been filed against these and 20 directors and promoters had so far been arrested.

He said that his government had been doning massive mass awareness campaign through media and a number of non government organisations(NGOs) to educate investors to beware them of such companies.

UNI