Tuesday 9 July 2013

How shell companies turn black money of India Inc, politicians into white and vice versa

To day I have seen a news item regarding the use of shell companies for money laundering purposes. This practice had evolved from Kolkatta. From there we find lot of shell companies being floated , capital accumulated and later sold off.

One of my clients was approached by someone regarding this. After seeing the profit and Loss account and balancesheets, total income statements etc, I was dissatisfied and found such project very risky, unethical and immoral. I later dissuaded my client from such a project.

After that bitter experience I had an occasion to read this article in Economic Times and I would like to share this to my friends to make them aware of what is happening and also to make them know what some of our brothen's activities bring bad name to all of us.

Now please go through the following link to read the article, I spoke off.

http://economictimes.indiatimes.com/news/news-by-company/corporate-trends/how-shell-companies-turn-black-money-of-india-inc-politicians-into-white-and-vice-versa/articleshow/20947474.cms?curpg=5

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