Shell Companies is a Buzz word in the Indian compliance professionals. There is significant activity in the Indian Corporate world. The Revenue authorities have followed an interesting strategy to zero down on the shell corporations. It is interesting to check the chronology of the events. Chronology of Events 07.08.2017 -...
The purpose of this article is Defining Shell Companies in Indian parlance. Though there have been significant actions taken on the Indian companies by their regulators, tax authorities and the company registration offices, in reality there is no clear definition of what shell company is ? Neither the Companies Act 2013,...
Indian Securities Regulator has imposed trading restrictions on 331 listed entities identified as shell companies. A surprise move that was declared by the regulators as the part of a broad crackdown on illegal offshore transfers and tax evasion. The announcement by the Securities Exchange Board of India (SEBI) did not clarified the nature of...
India's Stock Markets regulator, Securities Exchange Board of India (SEBI) has ordered forensic audit of three firms Mumbai Based Trinity Tradelink, Chennai based Info–Drive Software which was also known as Info Drive Computers Limited Delhi based 17 years old Edynamics Solutions All the three companies figured amongst 331 suspected shell companies...