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SEBI orders forensic audit of JMD Ventures Ltd

Regulator Sebi has ordered a forensic audit of JMD Ventures Ltd (JVL), which figures among 331 ‘suspected shell companies’, after finding prima facie evidence of misuse of the firm’s funds. JMD Ventures...

UCO Bank Money Laundering Case

Indo Iran Scam was at the root of the UCO Bank Money Laundering case. Enforcement Directorate (ED) has found that nine foreign nationals - mostly from Iran and Azerbaijan - entered...

Stock Market Regulator of India orders Forensic Audit of Shell Companies

India's Stock Markets regulator, Securities Exchange Board of India (SEBI) has ordered forensic audit of three firms Mumbai Based Trinity Tradelink, Chennai based Info–Drive Software which was also known as Info...

Defining the Shell Companies in India

The purpose of this article is Defining Shell Companies in Indian parlance. Though there have been significant actions taken on the Indian companies by their regulators, tax authorities and the company registration...

Textile firms in Money Laundering

The Directorate of Revenue Intelligence (DRI) is learnt to have unearthed a fraud involving at least half a dozen textile exporters who allegedly laundered at least Rs 200 crore in the...

40% SEBI Banned Shell Companies are traced in Kolkata

Indian Securities regulator imposed restrictions on 331 shell companies, out of which more than 40% are registered in Kolkata alone. Why Kolkata ? Kolkata is a popular destination of the Shell companies because...

How did Indian Government Zeroed on only 6000 companies as Shell

Shell Companies is a Buzz word in the Indian compliance professionals. There is significant activity in the Indian Corporate world. The Revenue authorities have followed an interesting strategy to zero down...

Professional CAs are acting as Shell Company operators

In the month of March'2017, there was a news that almost 54 Chartered Accountants have come under the radar of the Income Tax department and the Enforcement Directorate over money laundering...

Movers and Shakers of SEBI Banned Shell Company List

Securities Exchange Board of India, the stock market regulator penalised 331 listed companies by imposing restrictions on trading. Some companies which SEBI named in this list were shockers Prakash Industries Parsvnath...

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