18 More Shell companies on SFIO Radar


In an interesting development, the Ministry of Company Affairs which governs the registrations of the companies in India identified 18 more companies which are required to be investigated by the Serious Fraud Investigation office.

In May this year, the MCA had identified 331 companies which had deposited large sums of cash. In August, the Securities and Exchange Board of India had shifted shares of the listed companies into Graded Surveillance Mechanism, thereby severely restricting trading activity in them.

Names of these companies are as follows

  • Dreamline Manpower Solution Private Limited
  • Sterling Agro Industries Limited
  • CMI Limited
  • Maverick Holdings and Investment Private Limited
  • Great Eastern Energy Corporation Limited
  • Seeds and Grains India Private Limited
  • MG Housing
  • SEW Euro Drive India Private limited
  • Logix Soft-Tel Private Limited
  • Royaloak Steels Private Limited
  • Atma Tube Products Limited
  • Sujala Pipes Private Limited
  • Katira Construction Company
  • Raghuveer Metal Industries Limited
  • Minda Sai Limited
  • Genesys International Corporation
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Apurva Joshi is the forensic accounting evangelist. She is the author of Students Handbook on Forensic Accounting, which is one of the only textbooks in India on the subject of forensic accounting. She is a director in Riskpro Management Consulting. As one of the leading women professionals she is appointed on the board of Quickheal and Rinder India as the Independent Director.