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Friday, May 1, 2026
TopicShell companies

Topic: shell companies

2 Kotak Mahindra ‘team leads’ held in Rs 14.20 lakh digital arrest case, bank says ‘not our employees’

Accused worked as team leads in bank's account opening dept, according to police. Police also arrested 'director' of a shell firm whose account was used to commit alleged fraud.

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

India’s real estate will meet the reality of agentic AI

New Delhi: The outsourcing industry, India’s largest white-collar employer, is a juggernaut that has all but stopped moving. The dollar revenue at the top...

Adani’s giant copper plant hits technical setbacks in first year

The 500,000 tonne-per-year plant produced just 94,000 tonnes of refined copper from April 2025 to February this year.

Indian drone tech company ideaForge signs MoU with Japanese firm to develop next-gen AI powered drones

By pairing Indian drone engineering with Japanese semiconductor expertise, the two firms aim to develop more advanced autonomous systems tailored to both defence & commercial use.

Trump, Netanyahu’s Iran gamble: The regime change rebound

American objectives are unmet. They neither have muscle nor motivation to resume the war. As for Iran, the regime didn’t just survive, it’s now led by more radical individuals.