1) SIT(Special Investigation Team) in 3rd report had made recommendations with respect to Shell Companies & Beneficial Ownership.
2) It is observed that 2627 persons are holding Directorship in more than 20 Companies in violation to Companies Act, 2013.
3) The total number of Companies involved is 77696.
4) A total of 345 addresses have at least 20 Companies operating from the same address.
5) The total number of Companies sharing their address with at least 19 more Companies are 13581 in number.
6) SIT has desired greater vigilance is accorded by law enforcement agencies like CBDT, CBEC, ED in examining the operations of such Companies.
7) SIT has requested Ministry of Company affairs to take necessary action with respect to violation of the Companies Act noted above.
