Shell company enforcement: coordinated identification, strike off and account restrictions to strengthen corporate compliance and oversight.
Coordination against shell companies has produced a three tier database (Confirmed, Derived, Suspect) using red flag indicators and multi agency inputs, supported by Standard Operating Procedures for information sharing. Enforcement combines administrative strike off for non filing, director disqualification, restrictions on operation of struck off company bank accounts pending restoration, and a limited Condonation of Delay Scheme to regularize filings; further drives identify additional companies and LLPs for notices and potential action, with fraud linked to anti money laundering measures and strengthened auditor oversight.