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Two sack-full of torn and damaged currency notes of Rs 500 and Rs 1000 were recovered from a garbage vat in Kolkata on Sunday. (Photo: ANI/Twitter)

5,800 shell firms under govt scanner over deposits post demonetisation

Last month, the government imposed restrictions on operations of bank accounts of over 2 lakh 'struck-off' companies.

6 Oct 2017 1:40 PM IST

Old Rs 500 notes were banned along with Rs 1,000 curreny notes on November 8 last year. (Photo: PTI/FIle)

Govt releases data on companies involved in money laundering after...

Over Rs 4,574 crore was deposited post note ban in 13,140 bank accounts of 5,800 suspected companies.

6 Oct 2017 1:18 PM IST

Union minister P P Chaudhary.

Shell companies crackdown: 4.5 lakh directors may face axe

A total of 3,19,637 directors have been identified and flagged as disqualified under Section 164 (2) (a) of the...

5 Oct 2017 12:13 PM IST

Use of the countrys lese-majeste law has surged under the royalist junta that took power in a 2014 coup detat, with more than 100 people charged since the coup, according to legal monitoring group iLaw. (Photo: Representational/File)

After shell companies, Centre to scrutinise 10 lakh active firms

In its fight against shell companies, the government recently disqualified over 1 lakh directors.

26 Sept 2017 5:49 PM IST

Responding to a question, Jaitley said a proposal to extend the decision to public sector undertakings was under active consideration of the government. (Photo: PTI)

Govt 'proactive' in dealing with GST, benami property, says FM Jaitley

The Centre is also deliberating on divestment of Air India, for which a meeting is being chaired later in the day,...

21 Sept 2017 2:13 PM IST

Use of the countrys lese-majeste law has surged under the royalist junta that took power in a 2014 coup detat, with more than 100 people charged since the coup, according to legal monitoring group iLaw. (Photo: Representational/File)

Govt makes public names of 55,000 debarred directors of shell...

More than two lakh such companies have already been struck off the register of the companies with various ROCs.

20 Sept 2017 10:49 AM IST

On observing certain irregularities and fraudulent activities, Sebi passed an interim order against the company and its promoters in December 2011 and passed a final order in December 2013.

Sebi board to take stock of suspected shell cos on Monday

On August 7, the watchdog directed exchanges to restrict trading in shares of 331 companies.

17 Sept 2017 4:21 PM IST

The income tax department and the ministry of corporate affairs (MCA) have signed a pact to regularly share data, including PAN and audit reports of firms. (Representational Image)

Govt against shell companies: CBDT, MCA to share info on audit, PAN...

The pact aims at curbing the menace of money laundering, black money and misuse of corporate structure by shell...

14 Sept 2017 5:14 PM IST

On observing certain irregularities and fraudulent activities, Sebi passed an interim order against the company and its promoters in December 2011 and passed a final order in December 2013.

Shell cos clampdown: Sebi for forensic audit of 3 firms

Sebi has asked exchanges to appoint independent auditors to conduct forensic audit of these firms for verification.

14 Sept 2017 2:04 PM IST

Xavier was convicted by guilty plea in January on two counts of wire fraud. (Representational Image)

Disqualified directors of shell cos barred from submitting documents...

As part of the ministry's clampdown on shell companies, directors of such entities might also face regulatory action.

6 Sept 2017 8:43 PM IST

The government on Tuesday said that names of over 2.09 lakh firms were deregistered for failing to comply with regulatory requirements.

2.09 lakh companies deregistered; directors face action: Govt

Section 248 of the Companies Act provides powers to strike off names of companies on various grounds.

5 Sept 2017 5:53 PM IST

Sebi has begun looking into the matter for any possible disclosure and corporate governance-related lapses.

Sebi asks suspected shell cos to cooperate in forensic audits

Shell companies are dubious entities that are mainly used for illegal money laundering.

30 Oct 2018 3:01 PM IST