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Saturday, February 21, 2026
TopicShell companies

Topic: shell companies

3 yrs after IPO, ED digs out Varanium Cloud’s ‘pump & dump scheme, 150 shell firms, 400 mule accounts’

ED claims to have busted racket of illegal diversion of public funds after the tech firm raised Rs 36.6 cr in IPO in 2022. Probe stems from FIRs against promoter Harshavardhan Sabale.

NewsClick FIR says Chinese phone-makers set up ‘thousands of shell companies in India to funnel funds’

'Illegally infused foreign funds used to cause disaffection against nation', according to Delhi Police FIR. NewsClick founder, others accused of providing legal aid to these firms.

‘Address proof’ demands go against PM’s push for work from home

A firm without a traditional office isn't necessarily a shell company. And so, verification of physical address can't be the policy instrument to check if the business is legitimate.

Mumbai forex firm in ED net for forging tickets, passports to justify Rs 700-cr gain

ED books Capstone Forex Private Limited for siphoning funds, after information about a 'sharp rise in revenue' brought it under suspicion.

Modi govt expects to deregister another 20,000 bogus companies by end of this year

The process of acquiring KYC details of companies is currently on, action will be taken against promoters if they fail test.

New notification on corporate layering will limit growth and disadvantage Indian companies

The government has chosen to carpet bomb domestic companies in its bid to crack down on money laundering instead of resorting to a surgical strike.

On Camera

Youth Congress, your foolish protest helped the Modi govt climb out of the AI summit hole

In tactical terms, the shirtless protest was worse than a self-goal. Suddenly, the fiascos of the AI Summit were forgotten, and the Youth Congress’s disruption became the issue.

In the West, there’s anxiety. In India, optimism—Rishi Sunak says India poised to be leader in AI

On Wednesday, the former UK Prime Minister Rishi Sunak was speaking in New Delhi at a Carnegie & Observer Research Foundation event on AI.

MoD, IAF agree on some exemptions to HAL for Tejas Mk1A, but no compromise on ‘must-have’ capabilities

IAF is fine with accepting the aircraft with 'must-haves', even if some other steps remain pending, which may take at least another year, it is learnt.

No country is ever fully sovereign. Cold War era taught India its real meaning

India’s fraught neighbourhood places multiple constraints on its strategic choices. It leaves no time to take a deep breath, lean back and reset.