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78 companies vanish after raising Rs 356-crore, 17 in Gujarat

78 companies vanish after raising Rs 356-crore, 17 in Gujarat

Friday, March 31, 2017, 5:23 PM

As many as 78 companies are untraceable after raising Rs 356 crore from investors, with Gujarat having the maximum number of 17 such firms, Parliament was informed today. Vanishing companies are those that fail to file documents and balance sheets after raising funds through public issues and are untraceable.
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