Trading curbs on suspected shell companies are imposed by India

Trading curbs on suspected shell companies are imposed by India

India suddenly imposed trading restrictions on up to 162 shell companies. The given shocking move is considered to be a part of an intense crackdown on tax evasion as well as illegal offshore transfers.

Monday’s announcement by the Securities Exchange Board of India didn’t clarify what illegal activities the companies might have been involved in.

The restrictions suggest restricting trading in the affected companies to once a month as well as curbs in the trading of equities held by the promoters, not to mention the directors of the companies.

India’s government has been chasing companies it actually suspects of engaging in illegal transactions after the previous year’s ban on high-value currency bills, including evading taxes and "black money."

Some financial experts told these restrictions had taken market participants by surprise.

Financial experts stress that if these companies have been really practicing money-laundering, then severe penal action should be taken. On the contrary, If not, they should be immediately excluded from the list.

 

Similar

USD starts the week with gains
USD starts the week with gains

Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.

ECB report is in focus
ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

Latest news

How to trade ahead and after BOC report?
How to trade ahead and after BOC report?

The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.

US earnings in January 2021: what you need to know
US earnings in January 2021: what you need to know

We are now past the middle of January, and this means that the largest US companies will report their earnings for the fourth quarter and many of them will provide the results of the entire 2020.

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

Manager will call your number

Correct number

Your request is accepted

Manager will call your number

Next callback request for this phone number
will be available in {time}

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera