shell companies
More and strict rules to be framed for forming shell companies, especially when these are opened by directors or their family members of an established company. Their accounts must be verified every year and if for some reason there is no transaction existing, the company must be closed immediately and their license cancelled. more
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Professionals CA, Doctors, Lawyers, Monitoring Agencies Bureaucrats, Judiciary & Etc. & Elected Representatives don't work for benefit of our country's development other then their individuals benefit, nothing is going to change. All strict rules are framed but no will to follow coz. it will pinch their profit. more
Feb 26
All these rules are there under FEMA, but RBI and designated banks are not monitoring these things and even after bringing it to the notice of RBI of their lapses as well as in PG portal they are in denial mode. The frenzy is for gallery and again starts when some other scam breaks out more
Feb 24
These companies are invites to gather your undeclared resources into legality or vice versa,so the Government should impose certain rules and regulation for the same.Better late than never. more
Feb 24
Most of the shell companies are pvt. ltd or closely held ltd companies. These companies are in most cases are formed to shifon of profits or assets of main company. Therefore govt. should pay more attention to the companies, where family members of directors of main co. or its employees are made directors of shell company. more
Feb 24
The Suggestion of Mr. Subramanian is good. More check and Balances are required. But the foremost thing is compliance & checking after formation for which a computerized system like income tax department is having is needed. if already in place needs to be modified/improvised. more
Feb 24
