Monday, April 18, 2022

Proposal to exempt SPACs from 'shell company' tag

Under Companies Act, every company needs to carry out business after incorporation, failing which the name of the company will be struck off. This rule is aimed at curbing the creation of shell companies which do not undertake any business but are used as a front for illegal activities.

from Economy-News-Economic Times https://ift.tt/Uu0DYxF
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