The Indian government has launched prosecutions against more than 100 “vanishing companies” that listed on the country's stock exchanges in the 1990s and then disappeared after failing to meet regulatory filing requirements.
The ministry of corporate affairs said that investigations had resulted in the identification of 121 such companies.
It also said that the Securities and Exchange Board of India, the stock market regulator, had barred 100 companies and 378 directors from using the capital markets for five years.
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