HYDERABAD: It was business as usual at SRSR Advisory Services on Thursday. Being run from the third floor of a mall in Jubilee Hills, the firm that manages as many as 113 companies appears nothing short of an internet cafe. Employees, 20 of them, and a handful of housekeeping staff appeared for work as usual. Calm and composed, the employees were seen chit-chatting with colleagues during lunch break.
The firm has been operating for the last three years. Its front office displays a blue board with names and unique 21 digits alphanumeric Corporate Identity Number of the clients. “If we have displayed all the details of our clients here, how would you suspect they are shell companies?” asked an employee.
Denying allegations, the staff maintained that ROC officials have found nothing to incriminate their employer. The SRSR’s website claims they are into “legal, accounting, book-keeping and auditing activities; tax consultancy; market research and public opinion polling; business and management consultancy.” Its employees too parrot the same lines. “We have all the ROC filings clean and clear. Moreover, officials could not find any wrongdoing on our part,” claimed an employee.
The ROC officials say that examination of all the documentary evidence might take a few weeks time. “We have taken with us around 3 GB of data just from two computers. We have called for more information. We are primarily looking for cash rotation if any, and if found guilty, all directors can go to jail,” said the official.
Sleuths say over 300 more companies run from three to four locations in the state capital are under the radar. “The consultant may be doing his business legally, we are looking only for illegal rotation of cash between all these firms,” said the official. “If one of these companies go bust and if any enforcement agency knocks on these doors, you will never find a trace of these companies because someone else is operating from your registered address,” he added.