HC explains meaning of shell companies; Without hearing a company cannot be declared as shell company

Assam Company India Ltd. and Anr. Vs Union of India (Gauhati High Court)

What can be deduced is that though a shell company is defined in other jurisdictions, in India there is no statutory definition of a shell company. However, in popular parlance as well as from the perspective of the Government and its agencies, a shell company is ordinarily identified with dubious activities concerning serious economic offences, such as, tax evasion, money laundering, benami transaction, conversion of

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