Cracking the shells of Kolkata's 'paper firms'

With enforcement agencies hot on trail of shell cos, city is no longer the Mecca of parallel banking

For the past three years, some of the young officers at the investigation wing in charge of shell companies in Kolkata had a hectic schedule. Beyond working hours, much of their time was spent conducting raids in remote locations and rummaging through layers of financial transactions.

In one instance, the department chased a money trail which ran up to 200 layers of companies. The investigations came with an element of thrill, too. Something like a Stasi-era Soviet vigil, with even the indescribable tea seller being watched for being a suspected messenger to the culprits. In another instance, the puppet director