<h1>SIT urges crackdown on shell companies: 2,627 directors in 20+ firms, 345 addresses with multiple companies.</h1> The Special Investigation Team (SIT) has urged increased vigilance by law enforcement and intelligence agencies regarding individuals holding directorships in over 20 companies and companies sharing the same address. The SIT's report highlights the use of shell companies for laundering black money, recommending proactive detection and penal action against those involved. It identifies 2,627 individuals holding directorships in more than 20 companies, violating the Companies Act, and 345 addresses with at least 20 companies operating from the same location. The SIT has requested that the Ministry of Corporate Affairs and other agencies take necessary actions to address these violations.