Letter to BS: Govt may amend LLP Act to tighten noose on shell firms

There can't be any other explanation for the thousands of companies converting to LLPs

This refers to your front page lead report “Shell firms to face more PCA heat” by Veena Mani (June 20), about the Ministry of Corporate Affairs (MCA) getting active on the rogue limited liability partnerships (LLPs) that are clearly misusing the law, is heart-warming. The companies converting to LLPs is an example of the ingenuity of our business community. Obviously, with active assistance from company secretaries and chartered accountants — forever ready to oblige their conniving clients — wanting to find loopholes in the law and ways to go around the various provisions for achieving the goal of evading/avoiding/minimising taxes