Centre identifies over 2.38 lakh shell companies between 2018-2021

Minister of state for corporate affairs Rao Inderjit Singh, in a written reply to a question in Rajya Sabha on Tuesday, said the government has identified 2,38,223 shell companies during the last three years (2018-2021).

He added the government has undertaken a special drive for identification and to strike off shell companies and set up the special task force to look into the matter. The task force had inter-alia recommended the use of certain red-flag indicators as alerts for the identification of shell companies.

Singh said: "There is no definition of the term 'shell company' in the Companies Act and it normally refers to a company without active business operation or significant assets, which in some cases are used for illegal purposes such as tax evasion, money laundering, obscuring ownership, Benami properties, among others."

Here's the list of the companies:

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