mentioned in the agreement the same was
transferred to several fake/shell companies. It was further
alleged that at the time of availing the loan ... around Rs.8 crores stated to have been
diverted into such shell companies which were created by
the accused in the name of his employees
Shell Company Of India Ltd. vs Commissioner Of Income-Tax, Calcutta on 23 January, 1992
Equivalent citations: AIR1994SC1126, AIR 1994 SUPREME COURT
Delhi, and had laundered tainted cash
amounts through Kolkata based shell companies, the Directorate
of Enforcement had registered an ECIR bearing No.
ECIR ... Ankush Jain, and the fresh shares issued to the Kolkata
based Shell Companies were promptly transferred to
Vaibhav Jain and Ankush Jain during the check
respondent Nos 8 to 13
through the instrumentality of
certain shell companies; and
6
(iii) In Writ Petition (PIL) No 727 of
2022; the petitioner ... Soren family in the name of private
respondents through the shell companies and also to
investigate the source of income of private respondents
Madras, [1953] S.C.R. 1057,
followed.
Davies v. The Shell Company of China Ltd., (1951) Tax Cas.
133; and Morley v. Tattersall ... part of the case Mr. Sastri relied on Davies v. The
Shell Company of China Ltd. (1), but we do not think that
case assists
given to the word in the observations of Lord Sankey in
Shell Company's case reported in Shell Co. of Australia Ltd.
v. Federal
also in view of certain observations of this
Court in Burmah Shell Company v. Belgaum Municipal , [1963]
Suppl. 2 SCR 216 and Hiralal Thakorlal Dalai ... same outside the limit.
After consideration of the judgment in Burmah Shell
Company 's case (supra) the Gujarat High Court
nationalisation employees of Burmah Shell Refineries or
Burmah Shell oil Storage and Distributing Company who have
become employees of the second respondent-corporation as
result ... employees of Burmah Shell Refineries as
well as Burmah Shell Oil Storage and Distributing company of
India Limited enjoyed salaries and emoluments
target company in violation of Regulation 23 and other
steps of the promoters making the target company a shell company, it was
observed that ... target company and thereafter approached the civil
court. It was wrong to state that the target company had become defunct.
The target company continued
that the overseas assets
were acquired in the name of various shell companies on
the instructions of appellant’s son. Thus, it was stated
that ... there has been layering of proceeds of crime
by use of shell companies, most of which are only on
paper, and opined that there
