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  Goa nightclub fire: Luthra brothers' network of 42 shell companies linked to single address in Delhi

  India | December 11, 2025 16:36 IST

  Goa nightclub fire updates: Corporate records reveal that the Luthra brothers serve as directors in 42 different companies, prompting serious doubts about the legitimacy of these businesses. Most of these companies share the same registered address at 2590, Ground Floor, Hudson Line, Delhi.

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  CBI books Mumbai-based firm for siphoning off loan funds through 17 shell companies

  Maharashtra | September 11, 2023 19:49 IST

  The bank had sanctioned credit facilities of Rs 22 crore in 2007 to the company based at Goregaon East which resulted in the outstanding of Rs 24.20 crore on the date of non-performing assets on December 27, 2012.

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  Govt raids officials of Chinese shell companies in Delhi, Gurugram, Bengaluru, and Hyderabad

  India | September 08, 2022 18:27 IST

  Indian organisations providing fake directors to hundreds of Chinese shell companies were raided on Thursday by officers from the Ministry of Corporate Affairs in Delhi, Gurugram, Bengaluru, and Hyderabad.

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  West Bengal SSC scam: ED official says Arpita Mukherjee ran 12 shell companies

  India | July 25, 2022 21:07 IST

  West Bengal SSC scam: ED sleuths also suspect the involvement of a few lesser-known actors as well as people from different production houses in Odisha and Tamil Nadu.

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  Private bank manager held in shell company scam

  Business | July 03, 2019 6:29 IST

  During investigation, Sandeep Singh Dua said that he was a active member of a gang of cheats and businessmen who used dummy accounts of shell companies for transactions to avoid income tax.

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  Over 2.25 lakh companies may be struck off in FY19: Here's why

  Business | June 08, 2018 14:57 IST

  “For the second drive to be launched during 2018-19, 2,25,910 companies have been further identified for being struck off under section 248 of the Companies Act, 2013...for non-filing of financial statements for 2015-16 and 2016-17,” a finance ministry statement said, on Friday.

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  PNB fraud: ED says 120 shell companies involved in scam, 80 firms used by Nirav Modi and Mehul Choksi

  Business | February 20, 2018 17:29 IST

  The ED claimed that out of these 120 shell companies, 80 firms were being used by billionaire jeweler Nirav Modi and his uncle Mehul Choksi to route funds.

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  Crackdown on shell firms unearthed Rs 6,500 cr in suspicious cash deposits, claims minister

  Business | October 25, 2017 10:44 IST

  Minister of State for Corporate Affairs PP Chaudhary said that his ministry is probing deposits of over $1 billion made by around 20,000 companies during the cash ban last year.

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  Shell firms: Criminal action in offing for unexplained deposits during demonetisation

  Business | November 03, 2017 14:07 IST

  The government is said to be planning to invoke Section 447 of the Companies Act which provides for imprisonment of up to 10 years and penalty that could extend to three times the amount of fraud involved.

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  Shell companies: 500 listed companies under scanner for links to disqualified directors

  Business | October 10, 2017 11:43 IST

  Stock exchanges are sending notices to at least 500 publicly traded firms seeking explanations on why their directors have been disqualified.

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  '5,800 suspect companies deposited Rs 4,574cr post note ban , withdrew Rs 4,552cr'

  Business | October 06, 2017 15:18 IST

  A perusal of bank accounts of 5,800 companies 'struck off' the Register of Companies has revealed multiple accounts linked to them that carried out heavy transactions post November 8.

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  Crackdown on shell companies: 4.5 lakh directors may face disqualification

  Business | October 05, 2017 16:32 IST

  Government said that non-compliant companies are tarnishing the image of good ones and assured that genuine corporates will not face action.

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  In crackdown on shell companies, govt disqualifies over 2 lakh directors in 15 days

  Business | October 03, 2017 23:02 IST

  After the recent crackdown, the total number of directors disqualified by the ministry has reached 3,00,000.

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  Banks step up scrutiny of accounts of disqualified directors for links to shell companies

  Business | September 26, 2017 17:03 IST

  Banks are assessing whether the disqualified directors have links to shell companies and diverted funds.

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  Shell companies: Politicians, businessmen figure in govt’s list of disqualified Directors

  September 20, 2017 10:27 IST

  Names of prominent political and business leaders feature on the list of disqualified directors made public by the government

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  Crackdown on shell companies: Government to disqualify over 1.06 lakh directors

  September 12, 2017 19:57 IST

  Further tightening the noose around black money hoarders, the government has said that more than 1.06 lakh directors will be disqualified for their association with shell companies

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  More 'shell-shocks' in store as govt turns lens on nexus between Bollywood, builders and brokers

  India | August 13, 2017 16:29 IST

  Officials said a large number of companies having acted as 'shell firms' are linked to real estate, commodities and stock broking, films and television, plantation and non-banking financial services

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  SEBI initiates action against 331 suspected 'shell companies'

  August 09, 2017 8:46 IST

  The development comes a day after the market regulator directed the two major indices -- National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) -- through a letter to initiate action against the suspected firms

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  CBI raids at 23 locations in Kolkata, Ranchi over hawala dealings

  India | July 12, 2017 13:51 IST

  The Central Bureau of Investigation (CBI) today conducted raids at 23 locations in Ranchi and Kolkata in connection with suspected shell companies involved in hawala dealings

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  Mallya created 20 shell companies, made personal staff directors: ED chargsheet

  June 15, 2017 23:02 IST

  Liquor baron Vijay Mallya had allegedly floated 20 shell companies, directors of which were either his personal staff or those who retired, the ED has said in its recent chargesheet filed in the KFA-IDBI money laundering case