There is no definition of the term “Shell Companies” in the Companies Act and it normally refers to a company without active business operation or significant assets, which in some cases are used for illegal

A Task Force set-up under the Co-chairmanship of the Revenue Secretary and Corporate Affairs Secretary with members from various regulatory Ministries and Enforcement Agencies to monitor the actions taken against deviant shell companies by various

In a move to detect black money through the shell companies, the income tax department has decided to focus and enhance the skills of Assessing Officers. At the Direct Taxes Regional Training Institutes, AOs have

Shell has invited applications for the post of Senior Analyst - TSA NA Products. QUALIFICATIONS Master’s/Bachelor’s degree in Accounting or Finance or related business degree.Strong experience in Accounts Payable or Accounts receivable domain with Minimum

The Directorate of Enforcement (ED) arrested Ram Kishor Arora on June 27, 2023 under the relevant sections of the Prevention of Money Laundering Act, 2002. Arora is the promoter and director of Supertech Limited. The

The Goods and Services Tax ( GST ) department has reportedly detected a scam by three shell firms which sold cotton to five firms of Ludhiana. Such firms claimed the input credit tax (ITC) to

The Goods and Services Tax ( GST ) department has arrested the owners of eleven companies in a case relating to tax evasion. The arrest was made on the recommendation of the State Excise and

The CBI, on Friday arrested a Delhi-based Income Tax Commissioner Shwetabh Suman, for allegedly receiving fifty lakh rupees as bribe for passing favourable orders in tax assessment of a businessman in a shell company matter. The amount

In a further drive to smooth up the Indian Corporate Sector after taking up diverse stringent actions in opposition to the shell companies keeping in view the ultimate target of preventing the generation and circulation

In order to prevent fraudsters from fleeing the country, the Ministry of Corporate Affairs may consider a proposal to collect passport details of the Directors of Companies, said a report. As per reports, the proposal

The Task Force on Shell Companies has met 8 times since its constitution and has taken pro-active and coordinated steps to check the menace of shell companies. The ‘Task Force’ was set up in February, 2017

The Income Tax Department conducted searches on a prominent business group located in Chennai on 26.02.2021. Search was conducted at 11 premises and surveys in 9 premises of the group in Tamil Nadu, Gujarat and

In what is undoubtedly a major breakthrough in its fight against black money and shell companies, vital information has been received by the Government of India from 13 banks regarding the bank account operations and

Names of 1.20 Lakh more Shell Companies are soon to be de-registered due to non-compliances, the Government said on Tuesday. It was said that as part of fighting against the black money menace, the Nearly

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has recently observed that the appeals filed in relation to share application and share premium are done by Shell Companies, devoid of any business. A