The surveillance of shell companies will go a notch higher with their real estate coming under the scanner of the authorities, and the firms will be debarred from selling and transferring such properties. The ministry of corporate affairs (MCA) has asked state governments to identify properties owned by shell companies and put them in the custody of the district collectors concerned. “They (states) have been asked to issue orders to prohibit the sale and transfer of such properties by asking the district collector to take custody of such real estate assets,” a ...
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First Published: Wed, November 01 2017. 02:53 IST
