"At present, there are around 92 companies which have vanished with investors' money. We have filed FIRs against 76. Some directors have also been arrested," Company Affairs Minister Prem Chand Gupta said in New Delhi.
The Minister said government was taking several steps to check the activities of such companies. "These include having greater coordination with various state governments and keeping a watch on the antecedents of promoters of various companies," Gupta said on the sidelines of a seminar by Competition Commission of India.
He said the ministry had contacted chief secretaries and police chiefs of various states where such companies were believed to be in operation. "We have sought support for an effective joint approach to tackle the menace," he said.
The ministry was also actively engaged in checking the background of promoters and directors of companies operating in the market.
"The new Companies Act, which is currently being drafted by the government, will have specific provisions which seek definite identification of the promoters," he said.
Around 18 firms had been taken out of the purview of the vanishing companies category. "In fact, some have also returned the money of investors and we expect better compliance in the future," he added.