Deccan Inquirer

  DALIT  ONLINE Bi-Weekly e news  paper   Editor: Nagaraja.M.R.. Vol.19....Issue. 60......27 / 07 / 2023 __________________________ Legislation loop holes aiding shell cos ,  Black Money  Laundering To Smt Nirmala Sitharaman Union Finance Minister Government of India Dear Smt Sitharaman, I had earlier addressed you vide my letter dated 31-1-2023 (https://countercurrents.org/2023/02/overseas-shell-companies-a-shadow-economy-a-threat-t-national-interest/) pointing out how the government failed to define the term “overseas shell companies” in the Companies Act, SEBI Act and other related legislations, despite admitting to the Parliament as early as 6-2-2018 that there was an urgent need for such a consistent definition, a legislative omission that in turn indirectly helped domestic business houses to park their wealth in overseas shell companies and profiteer at the cost of the domestic economy. In the same letter, I also referred to the Department of Eco...