The Serious Fraud Investigation Office (SFIO) late Saturday arrested a person said to be the mastermind behind a slew of Chinese shell companies operating in the country, from a remote part of Bihar while he was attempting to cross the border through the land route.
The Ministry of Corporate Affairs had conducted a simultaneous search and seizure operation on September 8 at the Gurugram and Bengaluru offices of a firm called Jillian Consultants India Private Limited, a wholly-owned subsidiary of Jilian Hong Kong Limited. A Hyderabad-based firm Husys Consulting Ltd, that was earlier listed on the stock exchanges, was also probed in the operation.
“Investigations so far have revealed the possible involvement of these shell companies in serious financial crimes detrimental to the financial security of the country,” the ministry said.
