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Shell corporation
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===India=== After India's decision to [[2016 Indian banknote demonetisation|demonetise βΉ500 and βΉ1000 rupee notes]] on 8 November 2016,<ref>{{cite news|url=https://www.bbc.com/news/business-37906742|title=India scraps 500 and 1,000 rupee bank notes overnight|work=BBC News |date=8 November 2016|access-date=8 November 2016}}</ref><ref name="etBlackMonryCrackdown">{{cite web |url=http://economictimes.indiatimes.com/news/politics-and-nation/in-an-attempt-to-curb-black-money-pm-narendra-modi-declares-rs-500-1000-notes-to-be-void-from-midnight/articleshow/55315932.cms |title=In an attempt to curb black money, PM Narendra Modi declares Rs 500, 1000 notes to be invalid |date=9 November 2016 |access-date=9 November 2016 |work=news |publisher=The Economic Times }}</ref><ref name="India Today2">{{cite web|url=http://indiatoday.intoday.in/story/live-pm-narendra-modi-addresses-nation/1/805755.html|title=Here is what PM Modi said about the new Rs 500, Rs 2000 notes and black money|date=8 November 2016|access-date=9 November 2016|work=[[India Today]]}}</ref> various authorities noticed a surge in shell companies depositing cash in banks, possibly in an attempt to hide the real owner of the wealth. In response, in July 2017, the authorities ordered nearly 2,000 shell companies to be shut down while [[Securities and Exchange Board of India]] (SEBI) imposed trading restrictions on 162 listed entities as shell companies. A high-level task force found that hundreds of shell companies were registered in a few buildings in [[Kolkata]]. Many of those were found to be locked, with their padlocks coated in dust and many others which had office space the size of cubicles.<ref>{{cite news|title=Cracking down on black money, scrutiny of shell firms stepped up|url=http://timesofindia.indiatimes.com/business/india-business/cracking-down-on-black-money-scrutiny-of-shell-firms-stepped-up/articleshow/60086235.cms|access-date=16 August 2017|url-status=dead|archive-url=https://web.archive.org/web/20170817000336/http://timesofindia.indiatimes.com/business/india-business/cracking-down-on-black-money-scrutiny-of-shell-firms-stepped-up/articleshow/60086235.cms|archive-date=17 August 2017|df=dmy-all}}</ref>
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