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MoCA crackdown on Chinese shell companies in India; SFIO arrests mastermind

The mastermind of the whole racket of incorporating large number of shell companies with Chinese links in India and providing dummy Directors on their Boards has been arrested.

Corporate Affairs Ministry said, the Serious Fraud Investigation Office (SFIO) has arrested the mastermind Dortse yesterday. Dortse is on the Board of Jillian India Limited and has clearly emerged as the mastermind of the whole racket of incorporating large number of shell companies with Chinese links in India.

As per the records filed with the Registrar of Companies, the arrested person had shown himself to be a resident of Mandi in Himachal Pradesh.

The Ministry said, evidence procured during the enquiry by Registrar of Companies, Delhi and the simultaneous search operations clearly points to dummy Directors being paid by Jilian India Limited to act as dummies in several shell companies. It said, boxes filled with company seals and digital signatures of dummy directors have been recovered from the site.

The Indian employees were in touch with the Chinese counterparts through a Chinese instant messaging app. Husys Limited was also found to be acting on behalf of Jilian India Limited.

The Ministry said, initial observations revealed that Husys Limited had a pact with Jilian Hong Kong Limited.

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