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Up to 10-year jail for siphoning shell firms' money: Centre

Up to 10-year jail for siphoning shell firms' money: Centre

Thu, Sep 07, 2017

"It has been decided that in case director/authorised signatory of any struck-off company tries to unauthorisedly siphon off money from its bank account, he/she may attract imprisonment of not less than six months and extendable to 10 years," a Finance Ministry statement here said.

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