What is a Shell Company?
There is
no clear definition of what shell company is in the Companies Act, or any other
Act. But typically, shell companies include multiple layers of companies that
have been created for the purpose of diverting money or for money laundering.
Most shell companies do not manufacture any product or deal in any product or
render any service.
They are mostly used to make financial transactions. Generally, these companies hold assets only on paper and not in reality. These companies conduct almost no economic activity.
They are mostly used to make financial transactions. Generally, these companies hold assets only on paper and not in reality. These companies conduct almost no economic activity.
Indian Scenario
After
Prime Minister Narendra Modi's decision to demonetise ₹500 and ₹1000 rupee
notes on 8th November 2016, various authorities noticed a surge in shell
companies depositing cash in banks, possibly in an attempt to hide the real
owner of the wealth. In response, in July 2017, the authorities ordered nearly
2 lakh shell companies to be shut down while Securities and Exchange Board of
India (SEBI) imposed trading restrictions on 162 listed entities as shell
companies. A high-level task force found that hundreds of shell companies were
registered in a few buildings in Kolkata. Many of those were found to be
locked, with their padlocks coated in dust and many others which had office
space the size of cubicles.
What actions can be initiated against shell companies?
Companies
can be removed from the rolls of the Ministry of Corporate Affairs by two
means: strike off by Registrar of Companies (RoC) — (Section 248 (1) of the
Companies Act, 2013) and voluntary strike off — (Section 248 (2) of the
Companies Act, 2013). Voluntary closure can be done with the approval of the
board and shareholders and the firm should have nil liabilities.
However,
not all shell companies may be money laundering vehicles. There are many shell
companies that work within legal limits and do not have financial
irregularities. For example, a company may separate its HR function into
another company altogether. The second one is a legal entity, which operates
like any other company. If you are an equity investor, it is better to stay
away from investing in shell companies that have financial irregularities.
Conduct proper due diligence of companies that you have invested in, and try to
research their operations, businesses and financials.For Hassle free RoC Compliances contact us at 9900397777/ info@preethamandco.com
هل تقلق باستمرار أن لديك مشاكل مع قضيبك؟ لا تقلقوا يا أصدقائي الأعزاء أنصحك أن تحاول الذهاب إلى هذا المكان انظر هنا ، بما أنه هنا حيث أنني دائما أستطيع حل مشاكل من هذا النوع
ReplyDeleteGreat share!
ReplyDeleteLoved all that you shared, and you are right, one cannot deny the power of Google. I simply love it and am part of a number of
communities too. The point you mention in your post sand blasting machine manufacturer in India that are very useful for me. I understand the way of the attractive to the customer with the products.
Keep it works and share with us your latest information. For more Information or any help then visit now at Sand Blasting Machine, Shot Blasting Machine, Sand Blasting Machine for Sale, Sand Blasting Machine Manufacturer, and Small Sand Blasting Machine.
They are similar to small communities that you own - check them out if you haven't already.It's all got a lot better than before!t.
Thanks for sharing. Have a nice week ahead.
Visit at : www.blaster.co.in
Also Check
Portable Sand Blasting Machine
Portable Shot Blasting Machine
Shot Blasting Machine
Portable Grit Blasting Machine
Grit Blasting Machine
Regards,
Purnima Sharma.
Great share!
ReplyDeleteI love this bucket list and you know you're right. sand blasting machine manufacturer. We all have the same amount of hours in a day so put them to good use. We all have to start somewhere and your plan is perfect. I understand the way of the attractive to the customer with the products sand blasting machine.
Sand blasting machines like shot blasting machine, sand blasting machine, and grit blasting machines, Wood Working Machinery Dust Extraction unit, Abrasive Blasting Media and various others. Keep it works and share with us your latest information. My time will come but I know I'm on the right path.
They are similar to small communities that you own - check them out if you haven't already. It's all got a lot better than before!t. Value that list of thousands but I'll get there.
Thanks for sharing. Have a nice week ahead.
Visit at : www.gritblast.co.in
Also check
portable shot blasting machine
portable sand blasting machine
sand blasting cabinet
grit blasting cabinet
shot blasting cabinet
Regards,
Ankit Manawat.