Mumbai: The Economic Offences Wing (EOW) of the Mumbai police has received Look Out Circulars (LOCs) issued against 56 Chinese nationals, accused in 39 cheating and forgery cases, including violations of the provisions of the Company Act. “We have got LOCs issued against the 56 Chinese nationals to prevent their escape from the country,” said Pravin Padwal, joint commissioner of police, EOW. LOCs have also been issued against some of these accused, officials said. The Mumbai Company Registrar office stated, a few groups including some CAs, are running a full-fledged racket. The ROCs filing fraud cases against the companies having rogue Chinese directors, is part of a nationwide crackdown on shell companies with dummy Indian directors with Chinese connection.

Source: Hindustan Times September 27, 2022 23:35 UTC