Motilal Oswal
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Motilal Oswal
Economy

Crackdown on shell companies: Centre tells firms to furnish photographs, geographical details of registered offices

Updated : February 22, 2019 08:54 PM IST

Besides opting for geo-tagging rules, the Corporate Affairs Ministry has decided to seek details about companies' auditors and key managerial personnel, among others.
As part of its efforts to curb shell companies, suspected to be used as conduits for illicit fund flows, the ministry has notified a new electronic form ACTIVE-1 (Active Company Tagging Identities and Verification).
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