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@article{189909,
        author = {Priti Pal},
        title = {POWER OF GOVERNMENT AUTHORITIES IN BRANDING ANY COMPANY AS SHELL COMPANY},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {12},
        number = {8},
        pages = {1151-1164},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=189909},
        abstract = {Shell companies, legal firms in name only with little assets, activities, or staff, have attracted regulatory and judicial scrutiny in India because of their abuse for creating black money, tax evasion, money laundering, and corporate fraud. Not necessarily illegal per se, these firms can be used for legitimate functions such as cross-border investment, restructuring, or asset protection.
This research utilizes a doctrinal and qualitative approach to analyze the judicial, regulatory, and legal environment of shell companies in India. It emphasizes the lack of statutorily defined shell companies in major legislations, such as the Companies Act, 2013, Prevention of Money Laundering Act, 2002, and Benami Transactions (Prohibition) Amendment Act, 2016, and how this has led to enforcement issues. Historical development of regulatory action is tracked, such as the crackdown on black money, demonetization, and the 2017 multi-agency Task Force on Shell Companies.
Judicial statements, specifically Assam Company India Ltd. v. Union of India, highlight the imperative of due process and safeguard against arbitrary characterization as a shell company. International practices are also integrated to include comparative perspectives.},
        keywords = {Shell Companies, Corporate Governance, Money Laundering, Black Money, Assam Company Case, SEBI, Task Force, India.},
        month = {January},
        }