Finance Minister Nirmala Sitharaman speaks in the Lok Sabha during the Winter Session of Parliament in New Delhi Monday. (Photo | PTI) 
India

CBI detected 894 shell companies in four years: Govt

The agency also registered 30 cases against 104 shell companies during the period, the House was told.

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NEW DELHI: The CBI detected 894 shell companies while probing 108 cases in the last four years, the government told Parliament on Monday.

The agency also registered 30 cases against 104 shell companies during the period, the House was told.

Replying to a written question in the Lok Sabha, Minister of Corporate Affairs Nirmala Sitharaman said, "The CBI registered 30 cases against 104 shell companies during the last four years i.e 2015, 2016, 2017 and 2018. Further, during the investigation of 108 cases, 894 shell companies were detected, wherein irregularities such as falsification of financial statements, bank fraud, diversion of funds, impersonation, cheating, abuse of official position, criminal conspiracy, criminal misconduct etc were found."

Some of the shell companies and persons were involved in more than one case, she added.

According to the data presented by the minister, of the 108 cases, chargesheets were filed and trial was going on in 72.

Of the 30 cases filed against 104 shell companies, chargesheets were filed in 24, Sitharaman said.

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