Crores to accused Nos.2 to
24 and their shell companies and accused No.1 company has failed to
9
return the amounts ... companies in India, 4
companies at abroad and the petitioner and other accused diverted
the huge amount into their accounts and their shell companies
Crores to accused Nos.2 to
24 and their shell companies and accused No.1 company has failed to
9
return the amounts ... companies in India, 4
companies at abroad and the petitioner and other accused diverted
the huge amount into their accounts and their shell companies
they alongwith their associates were actively involved in
establishing the aforesaid shell companies on the instructions of Mr.
Mehmood Bhagad @ Chalenger King and that, they ... shell companies and opened bank
accounts in the name of said companies. Later on, amounts in crores were
transferred in these shell companies' accounts
those shell companies have been classified as
Independent Companies as well as subsidiary companies of Marg Limited.,
But in reality, all these companies are controlled ... shell companies incorporated solely with an intention to avoid being detected
of the actual controller of the companies. However, these shell companies
were not involved
those shell companies have been classified as
Independent Companies as well as subsidiary companies of Marg Limited.,
But in reality, all these companies are controlled ... shell companies incorporated solely with an intention to avoid being detected of
the actual controller of the companies. However, these shell companies were
not involved
departmental database of bogus shell companies, accommodation entry providers and operators, the company was merely a paper concern having no existent and real business. Finally ... shares application money and share premium through a number of shell companies operating from Kolkata.
8. In the course of analysis, the financial data
service receiver
has taken contradictory stands. They have established a shell company and
they were issuing invoices without providing any services. Though the
allegations ... companies. Their investigation further concluded that the
diverted amount again was routed back to DesignTech through bank
accounts of different companies. The Directors of shell
page 79
which discloses modus operandi of present petitioner. Shell
companies were floated by Mr. Sanjay Lall and loans were
sanctioned to those shell companies ... such loans were
sanctioned to those shell companies with the active guidance and
influence of the present petitioner but the said shell companies
were represented
possession of 230 bank pass-books of different
persons, created 13 shell companies, which are controlled by
Sunil Agrawal, Chartered Accountant of Babulal Agrawal ... short period. Money from these accounts was firstly
transferred to 13 shell companies and thereafter to M/s Prime
Ispat Pvt. Ltd. as share capital
that there was an investment of Rs. 39.08 crores by some
shell companies in M/s. Prime Ispat Limited. The Appellants before ... companies from whom the investment further flowed to the
applicant No. 1 company M/s. Prime Ispat Limited. Thus, as
far as investment from shell
