The agency found that the loans were diverted between 2011 and 2016 and the 79 companies were allegedly associated with the promoters of DHFL
Nirav Modi, aides forged diamond sales to siphon off huge funds from PNB; HSBC, audit firm questioned fugitive's deals: Probe report
In 2011, Modi's shadow company Unique allegedly transferred Rs 7.13 crore to his another company namely Synergies.
Strict punishment in offing for 3.38 lakh shell company owners: Centre to deploy DRI, FIU, CBDT, CBI for probe; ED to verify how funds are managed, laundered
So far, 3.38 lakh shell companies has been identified and de-registered by the Ministry of Corporate Affairs. A maximum of 75,000 companies in Delhi, 73,000 in Mumbai, 46,000 in Andhra Pradesh and Telangana together, and 16,000 in Kolkata were identified as shell entities which were used for tax evasion, obscuring real ownership, money laundering and purchase of benami properties.
In August 2017, SVC Industries had filed an application to the BSE, requesting it to remove the firm from suspected shell companies list and also from GSM Stage VI.
Election Commission warning on electoral bonds: Opaqueness defeats idea of clean money in political funding
Electoral bonds scheme, which came into effect in January 2018, had clocked in over Rs 600 crore political funding by October 2018.
Shares of Dewan Housing Finance Corporation Ltd (DHFL) zoomed 11 percent on Wednesday after a report by a chartered accountancy firm said there are no indications to confirm allegations that the company has created shell companies to divert funds
Deregistered companies decline to claim Rs 37,500 cr: Revelation is first tangible outcome of demonetisation
The Narendra Modi government functionaries and its sympathisers have been taking enormous pains from the date of demonetisation of high-value notes of Rs 500 and Rs 100 to underscore the point that the fruits of demonetisation would be available in the medium to long-term
Transfer of physical shares not possible from 5 December, only demat form allowed; all you need to know
Post-Tuesday, you won’t be able to transfer shares of listed companies if they are held in physical form.
Hard lessons from demonetisation: Try a long-term way to combat black money, avoid Bollywood-style hold-ups
One thing that can indeed be said with certainty is that the effort by Prime Minister Narendra Modi in November 2016 was a gamble.
Unlisted public companies have to compulsorily issue new shares in demat form beginning 2 October: Govt
The step has been taken for "further enhancing transparency, investor protection and governance in the corporate sector," the Corporate Affairs Ministry said
Shell companies clampdown: Sebi says trading restrictions to continue against Pacific Finstock, promoters and directors
The regulator said that the firm also failed to give any reason as to why the errors did not come to its notice till the time Sebi highlighted the same.
Pincon Spirit figured among the firms against whom Sebi initiated action last year by ordering trading restrictions after receiving the list of 331 'suspected shell companies' from the government.
Under the compulsory delisting regulations, the delisted company, its whole-time directors, promoters and group firm would be debarred from accessing the securities market for ten years
Generally, shell companies exist only on paper and are often used by fraudsters for carrying out their illegal activities
The Ministry of Corporate Affairs (MCA) has already struck off over 2.26 lakh companies for non-filing of financial statements or annual returns
Govt panel lists parameters that define a shell company; Centre urges whistle-blowers to report suspicious activity
A government panel has come up with a definition of a shell company based on suggestions from the ED, SEBI, the FIU and the CBDT.
PNB fraud: Nirav Modi's money trail leading to Delaware in US, says ED; probes for 'shell cos' in tax havens
Delaware in the US is a tax-free state, attracting a large number of companies from across the coutnry to register there.
PHD Chamber president Anil Khaitan blamed the systematic failure of the internal audit system for Punjab National Bank scam
PNB fraud: ED probe finds Nirav Modi, his brother Neeshal and Mehul Choksi were partners in 100 companies
Before the PNB scam came to light, Both Modi and Choksi, along with other family members, said to have left the country in early January.