https://www.taxtmi.com/news?id=41027 The Enforcement Directorate charged that principal officers and majority shareholders effected a criminal conspiracy to convert a loan into equity and transfer controlling shares of a public company to a private not for profit vehicle for nominal consideration, constituting money laundering and beneficial ownership diversion. The agency seeks to establish vicarious liability of corporate office bearers and executives under company offence provisions, relies on a prior tax assessment to allege asset acquisition and related tax evasion, and has attached immovable assets while pursuing restraint and recovery measures. en-us Tue, 15 Apr 2025 23:16:03 +0530 Tue, 15 Apr 2025 23:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=41027 The Enforcement Directorate charged that principal officers and majority shareholders effected a criminal conspiracy to convert a loan into equity and transfer controlling shares of a public company to a private not for profit vehicle for nominal consideration, constituting money laundering and beneficial ownership diversion. The agency seeks to establish vicarious liability of corporate office bearers and executives under company offence provisions, relies on a prior tax assessment to allege asset acquisition and related tax evasion, and has attached immovable assets while pursuing restraint and recovery measures. News - Tue, 15 Apr 2025 23:16:03 +0530 https://www.taxtmi.com/news?id=41027