Narendra Modi government, regulators mull challenge-proof definition for shell companies

A number of entities accused of using 'shell companies' for money laundering and other financial wrongdoings have challenged the regulatory action against them in recent months and there is a feeling that all regulatory gaps must be filled to avoid delay in bringing the guilty to book, officials said

Narendra Modi government, regulators mull challenge-proof definition for
Shell companies generally exist only on paper and are often used by scamsters for their nefarious activities, officials said. Image source: Reuters

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