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Our Bureau

New Delhi , Sept. 15

THE Ministry of Company Affairs has seen a rise in the number of complaints received against defaulting companies.

It received 12,283 complaints against such companies from shareholders and the public in 2002-03, up from 12,245 complaints in the previous year.

According to an official release, the Ministry considered 18,184 complaints including 5,901 brought forward from the previous year during the period under review. Of these, action was taken on 8,746 complaints after necessary scrutiny and inquiry. The number of pending complaints at the end of the year was 9,538. The complaints include non-payment of depositors, embezzlement and fraud, non-issue of share certificates, non-receipt of balance sheets, non-registration of transfer of shares and non-payment of dividends.

The Registrar of Companies, Andhra Pradesh, received the highest number of 1,809 complaints up to March 31, 2003. As of today, there are 117 vanishing companies in the Ministry's records.

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