A loophole in Australia's corporate watchdog registry has meant people linked to companies associated with Daniel Roberts and his offsider Shashanth Shankar Tellakula Gowrishankar have been allowed to repeatedly change their names.

In one incident, Daniel Roberts' wife Angela Roberts - previously known as Angela Edith Sendjirdjian - changed her name to her husband's name Daniel Roberts.

According to Australian Securities and Investments Commission (ASIC) documents, the name change was authorised by Daniel Roberts, a former bankrupt, who was born in the United Kingdom.

Mr Roberts, 34, was a director of Blissful Developments when he approved Angela Sendjirdjian, to change her name to Daniel Roberts on September 16, 2017.

On the same date, Ms Sendjirdjian increased her shareholdings in Blissful Developments, purchasing an additional six shares from another woman from Lake Macquarie.

An ASIC company search of Blissful Developments shows the shares being held under the name of Daniel Roberts, not Ms Sendjirdjian or her married name Angela Roberts.

Blissful Developments was placed in voluntary liquidation in March 2018 with debts of more than $750,000 to 25 unsecured creditors.

According to the ASIC registry, Ms Sendjirdjian has also been known as Angela Roberts, Harish Ganadharappa and another Hunter businessman's name who asked not to be identified.

She is listed as being a current or former shareholder in 26 companies under the name Daniel Roberts.

To add further confusion, ASIC's registry lists Mr Shankar's wife, Aarthi Dhandayutham, as being known as Rajalakshmi Shankar.

A Newcastle Herald investigation revealed on Saturday that Mr Roberts and Mr Shankar were accused by a Supreme Court judge of using phoenix companies to avoid paying their debts.

The men are linked to numerous building companies accused of leaving a string of construction and financial disasters across the Hunter. Dozens of people - including homeowners, tradies, developers and suppliers - have spoken out, alleging a host of defective or incomplete work and unpaid bills.

An ASIC spokeswoman said the watchdog accepted documents at "face value" and did not check the accuracy of information supplied.

She said the majority of name change notifications were made via an online portal and had to be done by another company officeholder.

"The register is merely a record of company notifications to ASIC," she said.

"This will be changing once registry modernisation commences, noting that a director identification number is proposed which is underpinned by identity checks. This will improve the integrity of our registers."

Under the modernisation plan, all directors would be given a unique director identification number to allow ASIC to better track officeholders.

"Section 1308(2) of the Corporations Act states that a person who, in a document required by or for the purposes of this Act or lodged with or submitted to ASIC, makes or authorises the making of a statement that to the person's knowledge is false or misleading in a material particular, or omits or authorises the omission of any matter or thing without which the document is to the person's knowledge misleading in a material respect, is guilty of an offence," she said.

"The maximum penalty for a breach of section 1308(2) is five years imprisonment or a fine of up to $126,000."

Mr Roberts and Mr Shankar have repeatedly declined to speak with the Newcastle Herald.