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Start learning 50% faster. Sign in nowShell companies can be used to transfer assets of one company onto a new company without having the liabilities of the former company. Shell corporations have been used to commit fraud, by repeatedly creating an empty shell corporation with a name similar to existing real corporations, then running up the price of the empty shell and suddenly selling it (pump and dump). There are also shell companies that were created for the purpose of owning assets (including tangibles, such as a real estate for property development, and intangibles, such as royalties or copyrights) and receiving income. Reasons behind creating such a shell company may include protection against litigation and/or tax benefits (some expenses that would not be deductible for an individual may be deductible for a corporation). Sometimes, shell companies are used for tax evasion or tax avoidance. A shelf corporation, shelf company, or aged corporation is a company or corporation that has had no activity. It was created and left with no activity – metaphorically put on the "shelf" to "age". The company can then be sold to a person or group of persons who wish to start a company without going through all the procedures of creating a new one.
Which professor was selected for the Hans von Hentig Award for his contributions to victimology?
When the Heart Speaks; a book authored by?
The City Union bank has tied up with which of the following insurance companies to provide health and life insurance to its customers?
Recently a campaign ‘Good for You and Good For the Planet’ has just begun, who has started this campaign?
On which day was Mahatma Buddha born and attained Nirvana?
RBL Bank's focus in its credit card segment is on:
The writer of an important patriotic song “Aye Mere Watan Ke Logo” is______
Which Indian bank became the first major bank to join the Partnership for Carbon Accounting Financials (PCAF)?
India Post Payment Bank and which of the following insurance companies have tied up in July 2022 to provide accidental guard policy to the bank customer...
Which statement about India's Fundamental Duties is incorrect?