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Government imposes trading curbs on suspected shell companies

Reuters  |  MUMBAI 

MUMBAI (Reuters) - India imposed trading restrictions on 162 listed entities identified as shell companies, a surprise move that analysts said was part of a broad crackdown on illegal offshore transfers and tax evasion.The announcement by the Securities Exchange Board of India (SEBI) late on Monday did not say what illegal activities the companies may have been engaged in. The restrictions include limiting trading in the affected companies to once a month and curbs in the trading of shares held by the promoters and directors of the companies.The government has been going after companies it ...

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First Published: Tue, August 08 2017. 12:25 IST
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