Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | Post-demonetisation, shell companies laundered at least Rs. 3,900 crore -Mahua Venkatesh

Post-demonetisation, shell companies laundered at least Rs. 3,900 crore -Mahua Venkatesh

Share this article Share this article
published Published on Feb 11, 2017   modified Modified on Feb 11, 2017
-Hindustan Times

New Delhi: At least Rs 3,900 crore was laundered through shell companies between November-December after the ban on high-value banknotes, investigations by a central agency have found.

The probe by the Serious Fraud Investigation Office (SFIO) has also identified at least 54 people who helped 559 beneficiaries with laundering the illicit cash, sources said.

The government recalled 500 and 1000-rupee notes on November 8 in a move it said was aimed at sucking out illicit cash from the system. Since then, various financial crime investigating agencies are tracking movement of high volumes of cash.

The sources said the people involved in laundering the money through 49 shell companies have been identified and could face stringent action.

Shell companies, which are anonymous corporate entities with fake ownership, are used as conduits to convert illicit money into legal cash and are vital to the money laundering chain.

A task force comprising members of various regulatory ministries and enforcement agencies has been set up under revenue secretary Hasmukh Adhia and corporate affairs secretary Tapan Ray to monitor action taken against shell companies.

Please click here to read more.
 

Hindustan Times, 10 February, 2017, http://www.hindustantimes.com/india-news/post-demonetisation-shell-companies-laundered-at-least-rs-3-900-crore/story-b3BcjNw2HuxQdWuzKIOgfJ.html


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close