PMO calls for freezing of shell firms' bank accounts within two weeks

Finance Secretary S C Garg will chair a meeting on Thursday

The Prime Minister’s Office (PMO) has called for expeditious freezing of bank accounts belonging to shell companies after some of them were found to be active, after around 350,000 inactive companies were struck off the official records since 2016-17.
 
Nripendra Misra, principal secretary to the Prime Minister, wrote a letter to top bureaucrats on June 23 asking them to convene a meeting to ensure finalisation of “standard operating procedures” for freezing of all bank accounts of shell companies within two weeks, in a bid to crackdown on money laundering.
 
Following this, Finance Secretary S C Garg will chair