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updated Thu. January 18, 2018

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But, there are more than 1,500 directors, who, the probe revealed, were on the board of suspicious shell companies, which had come under the scanner of investigating agencies for acting as conduit for black money hoarders. Officials privy to the investigation said they could be dummy directors used by ...
California punk act The shell corporation have released a music video for their brand new song "Make It rain", taken from their upcoming album Fucked, which arrives on March 2nd through La Escalera Records at home and Gunner Records abroad. You can watch the video below. Fucked serves as a ...

New Delhi: The government on Tuesday said it has decided to strike off the names of 1.20 lakh more companies from the official records for various non-compliances as part of its continuing crackdown on "shell companies" to tackle the black money menace. Nearly 2.26 lakh companies have already been ...
The government today said it has decided to strike off the names of 1.20 lakh more companies from the official records for various non-compliances as part of its continuing fight against the black money menace. Nearly 2.26 lakh companies have already been deregistered and around 3.09 lakh directors ...
Punknews is extremely excited to premiere The shell corporation's music video for their new song "Make It rain." Between the massive vocals and unrelenting guitar and bass we probably should issue this public service announcement: WARNING! This track could cause faces to melt! It rocks THAT hard.
Jaipur, Jan 11 (PTI) The Rajasthan police's Special Operations Group (SOG) today arrested the director of one of the six shell companies formed by Kolkata-based Pincon Spirits Limited, a senior police official said. The group had formed six shell companies, including LRN Universe Producers, to allegedly ...

Anonymous shell companies are suddenly in vogue when it comes to purchasing Trump properties. (CREDIT: GETTY/CHERISS MAY) ... As others have noted, in these states it's often easier to obtain an anonymous shell company than it is to receive a library card. (Said one academic, when it comes to ...
A partner of Miami-based investor David Brillembourg is suing him for allegedly stealing money in a labyrinthine shell company scheme involving the Raleigh Miami Beach hotel and a resort on the island of Anguilla. The plaintiff, Crandal Properties, claims an 88 percent interest in Brilla AJ RMB, ...
The government of India this year introduced a number of methodologies in order to ensure that shell companies do not become a medium of illegal activities like black money and corruption. From restrictions in the laying down of a number of subsidiary companies to the disqualification of shell companies ...
Mountain View-based search giant Google moved $19.2 billion in foreign income in 2016 through a complicated series of Subsidiaries and shell companies to help avoid paying billions of dollars in U.S. corporate taxes, according to a financial disclosure document published Tuesday. That's about 7 ...
The Enforcement Directorate has identified four companies allegedly incorporated at the instance of Gagan Dhawan, who has been arrested for his role in the ₹5,383-crore bank loan cheating case against Gujarat-based Sterling Biotech and others. The agency suspects that they are all shell companies.
Dec 29, 2017-Controversial businessman Ajeya Raj Sumargi may have formed a shell company called Zhodar Investments Limited in the British Virgin Islands to transfer billions of rupees, amassed through illegal ... shell companies are generally formed in offshore tax havens like the British Virgin Islands.
There is no clear definition of what shell company is in the companies Act, or any other Act. On Independence Day, Prime Minister Narendra Modi mentioned India's battle against black money and said that more than 1.75 lakh shell companies have been de-registered so far. Theoretically, shell companies ...
... second time that the ministry is coming out with such a scheme after the companies Act, 2013 came into effect from April 1, 2014. In 2014, the ministry had come out with a Company Law Settlement Scheme that also defaulting firms time to make their filings. 0Comments. Read more on. shell companies.
Corporate affairs minister Arun Jaitley. The ministry of corporate affairs will soon notify a scheme to provide relief to over 300,000 directors disqualified for associating with companies that failed to file their financial results. Photo: Indranil Bhoumik/Mint. Mumbai: The ministry of corporate affairs, or MCA, will ...
While the companies Act 2013 does not define what a shell company really is, shell or on-paper companies are legal entities with no real economic operations typically used for the purposes of tax dodging or to launder funds. Though owning shell companies is not illegal, these companies have especially ...
Criminal prosecution complaints related to shell companies have been filed in 47 cases, the government said today. In a written reply to the Lok Sabha, Minister of State for finance Shiv Pratap Shukla said that enforcement action against shell companies, their operators and associates and various ...

New Delhi: More than 3 lakh persons have been disqualified for holding the post of director at registered companies for failing to comply with regulatory requirements, the government said on Monday. Under the Companies Act, directors of companies that fail to file financial statements or annual returns ...
It is not a satisfactory criterion to establish an entity as a shell company. In fact, this move targets companies that may be non-functional or non-operative. Besides, new shell companies can be easily created. Moreover, disqualifying directors and delisting companies do not hold the true beneficiaries, that is, ...
Cameron's aim was to upend the British real estate sector's reputation as a haven for laundered money, by forcing the secretive shell companies that ... most expensive secretly owned property is 123 Buckingham Palace Road, valued at £215,399,999 ($289,000,000) and owned by a Jersey shell company, ...
In the pursuit of the preventing the use of the shell companies as an instrument of conducting illegal transactions, the government imposed several restrictions in this regard. Besides limiting the number of layers of Subsidiaries to be laid down by a company by the passing of the companies Amendment Bill ...
How much of his fortune has Donald Trump made by selling condominiums to anonymous shell companies used as fronts by criminals looking for easy ways to launder their ill-gotten money? It is a question that has dogged Trump's real estate empire for years and one that may have been on the president's ...
Donald Trump's love of secretive shell companies has been well documented. He makes extensive use of them for his own businesses and since his election 70% of his company's property sales have been made to limited-liability corporations (LLCs), according to USA Today. In an extensive roundup of all ...
It came from seemingly out of nowhere, but California punk act The shell corporation have announced a brand new album! The twelve-song release is called Fucked., and it's slated for release March 2nd through La Escalera Records at home and Gunner Records abroad. Check out the band's promotional ...
Anonymous shell companies incorporated in the United States have financed human trafficking, weapons trafficking, terrorism, predatory financial crimes and more. U.S.-based anonymous shell companies also fuel corruption, poverty and instability around the world by enabling the corrupt to siphon money ...
The government is working on an amnesty scheme for the more than two lakh companies and three lakh directors disqualified in September by giving them a chance to make the required disclosures, two people aware of the development told BloombergQuint. Registration of these companies was ...
... second time that the ministry is coming out with such a scheme after the companies Act, 2013 came into effect from April 1, 2014. In 2014, the ministry had come out with a Company Law Settlement Scheme that also defaulting firms time to make their filings. 0Comments. Read more on. shell companies.
While the companies Act 2013 does not define what a shell company really is, shell or on-paper companies are legal entities with no real economic operations typically used for the purposes of tax dodging or to launder funds. Though owning shell companies is not illegal, these companies have especially ...
Corporate affairs minister Arun Jaitley. The ministry of corporate affairs will soon notify a scheme to provide relief to over 300,000 directors disqualified for associating with companies that failed to file their financial results. Photo: Indranil Bhoumik/Mint. Mumbai: The ministry of corporate affairs, or MCA, will ...
Criminal prosecution complaints related to shell companies have been filed in 47 cases, the government said today. In a written reply to the Lok Sabha, Minister of State for finance Shiv Pratap Shukla said that enforcement action against shell companies, their operators and associates and various ...
New Delhi: More than 3 lakh persons have been disqualified for holding the post of director at registered companies for failing to comply with regulatory requirements, the government said on Monday. Under the Companies Act, directors of companies that fail to file financial statements or annual returns ...
NAGPUR: Over 60,000 shell companies have been closed down in Maharashtra so far, industries minister Subhash Desai stated in a written reply in the Maharashtra state assembly. "The Union government has issued a list from the Registrar of companies stating that 60,105 companies in the state have ...
European and U.S. companies tend to position various overseas sales and manufacturing units as Subsidiaries of shell companies incorporated in low-tax jurisdictions as a way to reduce tax liability at home. But Japan can tax the earnings of these shell companies under certain conditions, provided they ...
A total of 331 suspected shell companies were banned from trading on stock exchanges three months ago, but the market regulator, Securities and Exchange Board of India (Sebi), has decided to probe merely 10-12 ... shell company is an entity without any active business operations or significant assets.
Cameron's aim was to upend the British real estate sector's reputation as a haven for laundered money, by forcing the secretive shell companies that ... most expensive secretly owned property is 123 Buckingham Palace Road, valued at £215,399,999 ($289,000,000) and owned by a Jersey shell company, ...
A USA Today Network investigation revealed that some port trucking companies have used legal loopholes, shell companies, and bankruptcies to escape judgments by labor court judges. The ongoing investigation reveals that some port trucking companies serving top retailers use such tactics to take ...
In the pursuit of the preventing the use of the shell companies as an instrument of conducting illegal transactions, the government imposed several restrictions in this regard. Besides limiting the number of layers of Subsidiaries to be laid down by a company by the passing of the companies Amendment Bill ...
Tirana, Dec. 5 (Xinhua) -- Albania's National Agency of natural resources (NANR) has reached an oil exploration deal with shell company, paving the way for the start of the drilling in Block 4, in southern Albania, head of NANR Adrian Bylyku announced Tuesday. Bylyku told reporters he was very ...
The long wait may finally be over. The legal lacuna on shell companies may soon get filled with the CA Institute, which is the regulator of audit profession, now looking to define a "shell company" for the purpose of effective regulatory action against such firms. Currently, the concept of a "shell company" is ...
New Delhi: The government has found that over Rs 21,000 crore was moved in and out of bank accounts during demonetisation by some of the companies that have been deregistered. The ongoing crackdown on shell companies has revealed that about 62,300 companies with 88,000 bank accounts had ...
shell companies: SFIO to probe 18 cos for suspicious transactions post note ban. After striking off names of around 2.24 lakh companies from the official records for being inactive for long and disqualifying more than 3 lakh directors, the corporate affairs ministry is carrying out data mining to gather more ...
The government has received bank details of 60,000 out of 2.24 lakh companies which were deregistered recently due to non-compliance and non-filing of returns, said a ministry of corporate affairs official. The bank details of these companies reveal that Rs 21,000 crore was deposited post-demonetisation ...
Lan was responding to allegations that the subsidiary of Mara, the agency tasked with helping poor, rural Malays, had entered into a deal in 2012 to buy US$2 shell company Thrushcross Land Holdings Ltd, which claimed to own the 12-storey UniLodge building in Melbourne, when it didn't. Thrushcross ...
DID Minister Ismail Sabri Yaakob mislead the Dewan Rakyat on how much a government agency, which is supposed to help poor Malays, paid for a US$2 shell company? That is the question by the Australian branch of a local civil society organisation, following a report that Mara Inc had paid A$41.8 ...
The president recently declared what many of us experience firsthand, the opioid epidemic is a national emergency. Frankly, with as many as 59,000 deaths in 2016, there doesn't seem to be any other possible description. So many dedicated people in cities and towns, faith communities and schools, ...
"We have found that Marg group had operated many shell companies. Similarly, Ganga Foundation, a real estate firm, is under the scanner for manipulation of accounts during demonetisation," said a senior I-T official. Milan and Patel group, which are into textiles, timber and sugar business, are also being ...
The Centre's concerted crackdown on shell companies has taken another controversial turn with the ministry of corporate affairs recently commencing the ... The government's persistent efforts to put in place strong deterrents against the scourge of money-laundering using the shell company route are ...
New Delhi: More than one-third of the total 17 lakh registered companies in the country were shuttered as on end of October, latest official data showed. While authorities step up their clampdown on companies suspected of being used as a conduit for illegal activities, the number of active firms stood at little ...
It is not clear how many of them are there, how many can be categorised as shell companies, what is the extent of violation of laws and rules ...
shell companies in Nigeria (SCiN) are the 2017 Best in Sustainability and innovation in Africa, beating two other finalists at the 11th edition of ...


 

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