Shell Companies

Timelines

31 Jul 2018

Demonetization: Hyderabad firm that deposited Rs. 3,000cr missing from registered-address

A Hyderabad-based company that suspiciously deposited and withdrew Rs. 3,178cr during demonetization is nowhere to be found at its registered address, TOI reports.

26 Jul 2018

114 companies, 1-room: Kin of tainted Satyam founder under scanner

In a shocking discovery, the family members of founder and ex-chairman of Satyam, B. Ramalinga Raju were found operating 114 shell companies from a one-room office in Hyderabad.

24 Nov 2017

Chhagan Bhujbal and Jagan Reddy in ED's list of launderers

The Enforcement Directorate (ED) has released its list of top money launderers and shell companies they used to transact unaccounted money.

06 Nov 2017

Demonetization anniversary: I-T gears up to catch the "big fish"

As the demonetization anniversary nears, I-T is actively engrossed in bringing into its net the "big fish" owning unexplained wealth.

06 Oct 2017

Several companies owned hundreds of bank accounts during demonetization!

The government has said that 13 banks have furnished information regarding post-demonetization transactions by a whopping 5,800 suspicious companies.

31 Aug 2017

Investigation: Over 800 'firms' located at two vacant Delhi addresses

The menace of shell companies is an undeniable reality in India. Last month, PM Narendra Modi announced over 37,000 such firms have already been detected, and registrations of one lakh others have been cancelled.

18 Aug 2017

Kolkata 700001, home of 37 shell companies or even more?

After SEBI asked the bourses to take strict action against suspected "shell companies" aka firms that have been created for money laundering, something bizarre was unearthed.

03 Jul 2017

1 lakh deregistered companies to face more action

After the deregistration of one lakh firms over questionable transactions, the government is launching a multi-pronged offensive against them.

02 Jul 2017

Modi says corrupt won't be spared, 1 lakh firms de-registered

While addressing the foundation day function of the ICAI, PM Modi said the registration of over one lakh companies has been cancelled over questionable transactions.

28 Jun 2017

Sushil Kumar Modi exposes 'sixth shell company' of the Yadavs

BJP leader Sushil Kumar Modi, who has fired one salvo after another against the RJD's Yadav clan, has now exposed the alleged sixth shell company of the family.

22 May 2017

Would've been in jail if allegations were true, says Kejriwal

Delhi Chief Minister Arvind Kejriwal called allegations directed by his former cabinet colleague, Kapil Mishra, "baseless."

19 May 2017

Kapil Mishra- Kejriwal is involved in 'hawala scam'

Sacked Delhi Minister Kapil Mishra has levelled fresh allegations of money laundering against the AAP.

08 May 2017

Black money crackdown - CBI investigation uncovers shell company network

The Central Bureau of Investigation (CBI), in its ongoing three-year long investigation into black money, uncovered evidence of a clandestine web of 339 shell companies used to channel funds up to Rs. 290 crore.

01 May 2017

9lakh firms don't file their I-T returns : Revenue Secretary

While the FinMin keeps on harping about the need to curb black money and prevent methods of offshore money laundering, there seems to be more trouble brewing at home.

18 Apr 2017

4 lakh companies could be deregistered for not filing returns

More than one third of the 11 lakh active Indian shell companies face de-registration prospects as they haven't filed their returns since the last 3 financial years.

14 Apr 2017

Shell cos: ED raids CA, CS offices who provided cover

The ED has launched raids on offices of professionals including CAs and CSs in Delhi, who are suspected to have provided legitimate cover to shell companies. Notices were sent earlier.

09 Apr 2017

Shell companies: 16 Ahmedabad locations raided over illegal transactions

CBI raided 16 premises in Ahmedabad after 12 people allegedly deposited demonetized notes worth Rs. 100.57cr in shell companies' accounts in Axis Bank.

02 Apr 2017

ED's shell firms hunt: Raids over 100 places across India

Enforcement Directorate launched a massive nationwide operation and raided over 100 places across 16 states in a crackdown on shell firms suspected of money laundering on behalf of other businesses/individuals.