Accordingly this is the question that led the officials of the Hyderabad Regional Office of the Registrar of Companies (RoC) to launch an inspection at a small office at a mall in Jubilee Hills on Wednesday. Meanwhile the officials were looking into shell companies operating out of Hyderabad, when they found that the 114 companies owned by the kin of tainted Satyam founder Ramalinga Raju were being “kept alive” by SRSR Advisory Services Private Limited, that provides financial services.
Reports added that this is the largest number of companies registered with one company in both Telangana and Andhra Pradesh. It’s premature to call them shell companies, but prima facie evidence suggests financial wrongdoings. An official who was part of the raid said “We will have to look at the documents we collected today, evaluate and come to conclusions”.
Moreover the small office at the Fortune Monarch
Mall on Road No 36, Jubilee Hills employed 30 people, many of whom were listed
as directors for the 114 companies. Another official said “This way, they can avoid violating the
Companies Act that limits the number of companies a person can be a director to
Government of Andhra Pradesh signs MoU with Internshala, launches 'Youth for Andhra Program' Real Time Governance Society (RTGS) of Government of Andhra Pradesh has signed an MoU with Internshala to launch the ‘Youth for Andhra Program’ program. The program focuses on empowering the youth of Andhra Pradesh and shaping them into change makers at the grassroot level. 10,000 students across Andhra Pradesh will be hired under this program and will gain valuable knowledge about government policies and bureaucracy. The deadline to apply to the program is 25th February 2019.
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