Shell Companies
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Goa nightclub fire: Luthra brothers' network of 42 shell companies linked to single address in Delhi
India | Dec 11, 2025, 04:36 PM ISTGoa 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 | Sep 11, 2023, 07:49 PM ISTThe 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 | Sep 08, 2022, 06:27 PM ISTIndian 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 | Jul 25, 2022, 09:07 PM ISTWest 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 | Jul 03, 2019, 06:29 AM ISTDuring 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 | Jun 08, 2018, 02:57 PM 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 | Feb 20, 2018, 05:29 PM ISTThe 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 | Oct 25, 2017, 10:44 AM ISTMinister 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 | Nov 03, 2017, 02:07 PM ISTThe 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 | Oct 10, 2017, 11:43 AM ISTStock 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 | Oct 06, 2017, 03:18 PM ISTA 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 | Oct 05, 2017, 04:32 PM ISTGovernment 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 | Oct 03, 2017, 11:02 PM ISTAfter 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 | Sep 26, 2017, 05:03 PM ISTBanks 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
Sep 20, 2017, 10:27 AM ISTNames 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
Sep 12, 2017, 07:57 PM ISTFurther 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 | Aug 13, 2017, 04:29 PM ISTOfficials 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'
Aug 09, 2017, 08:46 AM ISTThe 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 | Jul 12, 2017, 01:51 PM ISTThe 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
Jun 15, 2017, 11:02 PM ISTLiquor 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