July 1 2017
Announcing the cancellation of registration of over 100,000 companies and identification of 37,000 shell firms for suspected generation of black money and money laundering, Prime Minister Narendra Modi on Saturday warned of “more tough action” against firms helping in hiding unaccounted wealth. Addressing chartered accountants gathered from across the country, he asked them to do some soul searching and weed out elements who assist those stashing money abroad and evade taxes.