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Mon, Nov 19, 2018 | Last Updated 5:02 am IST

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Can one small office house 114 companies?

Can one small office house 114 companies?
Can one small office house 114 companies?
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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”.

Can one small office house 114 companies?

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 just 20”.

Can one small office house 114 companies?

Can one small office house 114 companies?
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