<h1>Task Force Cracks Down on Shell Companies: 162,000 Removed, Over 1,155 Detected for Fraudulent Transactions Since 2017.</h1> A Task Force on Shell Companies was established in February 2017, co-chaired by the Revenue Secretary and the Secretary of the Ministry of Corporate Affairs, to tackle malpractices by shell companies. The task force includes members from various government departments and agencies. Actions taken include creating a digital database of shell companies, detecting over 1,155 shell companies used by 22,000 beneficiaries for fraudulent transactions, conducting nationwide searches, and removing over 162,000 companies from the register. The government has also requested the RBI to enhance due diligence on these companies and streamline information sharing among law enforcement agencies.