Page 2 - Shell Companies

Major crackdown on shell firms? BSE to delist 222 companies from Wednesday

Promoters of these delisted companies will be required to purchase the shares from the public shareholders

Over 1,300 listed companies did not file annual results; here's why

911 have been traced by the Securities and Exchange Board of India (Sebi), while the rest of the 402 are not traceable on the bourses

Govt will soon come out with definition for shell companies: P P Chaudhary

The task force on shell companies was set up by the government in 2017

Probe into 80,000 shell firms hits dead end as govt fails to trace PANs

The government had sent notices to 226,000 companies for not filing statutory returns

'Scrutiny of shell cos might unearth something about political parties'

The government wants transparency in the functioning of companies and ensure that they are not misused as conduits for money laundering and other illegal activities

Over 226,000 shell companies de-registered in FY18, says Finance Ministry

A total of 225,910 companies have been further identified for being officially struck-off in a second drive by the task force to be launched during the financial year 2018-19

India Inc's subsidiaries in tax havens under probe agencies' scanner

Task force suggests 14 attributes of potential shell companies; lists parameters to identify firms that routed cash during note ban

What are 'shell firms'? Parl panel wants clear definition in Companies Act

At present, the term 'shell company' is not defined under the Companies Act, which is implemented by the corporate affairs ministry

What are shell companies? Govt to lay down guidelines by Jan-end

The task force will lay down specific guidelines to validate the clampdown on shell companies

1,500 firms under lens for being shell entities

In the first list of dabba companies, more than 500 listed entities and their directors have been affected

City of ploy: Surat beats Kolkata to become India's new shell firm capital

Over 80% of 2,138 shell firms that deposited unaccounted cash of Rs 5,000 cr during note ban were from Surat

Govt to crack whip on firms not filing cost audits

At present, there are 5,000 firms that need to file cost audits. However, only 1,000 companies actually do so

Govt wants early warning system on shell companies: How it will work

The ministry of corporate affairs (MCA) says work has begun for an "early warning system" regarding shell companies.The term is used to refer to a company without active business operations or much of assets. This by itself isn't illegitimate but they could be used as a maneuvre for financial operations of a suspect or illegitimate nature. Currently, there is no way to check shell companies systemically, an official said. Chartered accountants (CAs) do come out with qualified accounts of such companies but these come in a random way on the ministry's MCA21 portal. Qualified accounts refer to bits of information about which CAs have doubts or disagreement with the audited entity's management. After the hoped-for early warning system comes, qualified accounts would be flagged on the ministry's portal, helping it and other regulators to check on such entities. "We are yet to work out the nitty gritty of this system but are on the job," another official said. He said this would do away ...

Will use artificial intelligence to nab shell companies: P P Chaudhary

Govt is trying to find beneficiaries of the 209,0000 shell companies that have not filed statutory returns, the minister of state said

Cracking the shells

But the principle of natural justice should not be ignored

More trouble for shell firms: PAN, audit reports come under govt scanner

IT department and the ministry of corporate affairs signed a pact to regularly share data

Auditors come under lens amid crackdown on shell companies

Corporate affairs ministry, as well as Sebi are keeping a close tab on activities carried out by shell companies

Over 100,000 shell firm directors disqualified for five years

This comes just a few days after bank accounts of around 200,000 shell companies were frozen

After shell firms, govt looks to weed out defunct LLP firms

Most experts expect de-registration of defunct LLP firms to gather steam in the coming months

Black money hunt: Inactive LLPs face heat, nearly 200 face deregistration

Black money hunt: Inactive LLPs face heat, nearly 200 face deregistration