look news india
The Indian government has once again attacked Chinese companies. About 400 Chinese companies may be closed in the next three months. These companies have been accused of operating illegally in India.
In fact, the Ministry of Corporate Affairs (MCA) has decided to shut down Chinese companies in 17 states in the next three months for allegedly being involved in the online loan and employment sector. A senior official said that this decision will be applicable in various cities and towns of 17 states including Delhi, Mumbai, Chennai, Bengaluru, Uttar Pradesh and Andhra Pradesh. The MCA has investigated the establishment of these companies and allegations of financial fraud. Investigation of other 30-40 Chinese companies has also been ordered. According to reports, so far 600 Chinese companies have been investigated and 300-400 of them will be closed. These companies include loan apps and online job companies.
Many allegations have been made against these companies
The MCA has investigated loan apps that are accused of harassing borrowers, committing fraud or violating financial regulations. This investigation was initiated due to the increasing use of digital lending apps in India. These companies are accused of charging high interest and borrowing. Some companies have an Indian director but his bank account is in China and no transactions are registered. The companies are not available at their registered addresses.