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As the government looks at measures to stop the practice of using shell companies as conduits for money laundering and tax evasion, a key legal challenge facing enforcement agencies relates to piercing the corporate veil behind which such companies operate. A release from the Prime Minister’s Office points out: Of 1.5 million registered companies in India, only 600,000 file their annual returns.

Rakesh Nangia, Managing Partner shares his views on aforementioned story for Business Standard.

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