 "Illustration: Ajay Mohanty")
A restructuring drive may be in the offing for Corporate India, following the government’s recent decision to bring down the number of subsidiaries in a company to two layers.
The move by the government is seen as part of its effort to crack down shell companies across the country. Experts say the limited number of layers will ensure that a company does not use shell structures for money laundering and evade taxes. Indian companies will have to restructure themselves to fall in line with this amendment.
“The existing companies having more than two layers shall only require the companies to
