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Black Money: Shell Companies Directors May Face Disqualification up to 5 Yrs.
June 14, 2017
In one of the efforts against black money, the government has decided to disqualify the directors of shell companies which have not been doing any business for a long time from holding their positions up to five years. Since shell companies are commonly used for laundering black money, this move can lead to appreciative positive results.
The government is keeping an eye on about three lakh companies to identify black money, and taking stern measures such as taking the names off the directors and taking strong action whenever needed.
