{"id":27564,"date":"2018-10-23T14:49:08","date_gmt":"2018-10-23T09:19:08","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=27564"},"modified":"2018-10-23T14:49:08","modified_gmt":"2018-10-23T09:19:08","slug":"govt-plans-geo-tagging-to-crackdown-on-shell-companies","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/govt-plans-geo-tagging-to-crackdown-on-shell-companies\/","title":{"rendered":"Govt plans geo-tagging to crackdown on shell companies"},"content":{"rendered":"<p><a href=\"https:\/\/www.livemint.com\/Companies\/z3Lg2E0otbz9yZqd0xYjNN\/Govt-plans-geotagging-to-crackdown-on-shell-companies.html\">Govt plans geo-tagging to crackdown on shell companies<\/a><\/p>\n<p><strong><u>News:<\/u><\/strong><\/p>\n<p>1.Government is planning mandatory Geo-Tagging for companies to prevent fraud.<\/p>\n<p><strong><u>Important Facts:<\/u><\/strong><\/p>\n<p>2.Geo-tagging will help the government to prevent fraud committed by Shell companies.<\/p>\n<p>3.<u>What are Shell Companies<\/u><\/p>\n<ul>\n<li>A shell company is a non-profit company. It does not have an active business or assets. It is mostly a company on papers which is used in business transactions.<\/li>\n<li>It is not necessarily illegal but is often used for tax evasion.<\/li>\n<li>They neither manufacture anything nor render any service. They are generally used to make financial transactions.<\/li>\n<\/ul>\n<p>4. Due to lack of clear definition of Shell companies, Government is in the process of defining them.<br \/>\n5.Government has asked companies to geo-tag their registered offices in the statutory filings with the Registrar of Companies (RoC).<\/p>\n<p><u>5. What is Geo-Tagging<\/u><\/p>\n<ul>\n<li>The process of Tagging something (e.g. Infrastructure, Objects etc.) with geographical information like latitude, longitude, distance, place name in form of metadata (may be QR code, RSS feeds SMS message).<\/li>\n<\/ul>\n<p><u>6. Application and Advantages of Geo-Tagging<\/u><\/p>\n<ul>\n<li>Geotagging helps to find a wide variety of location-specific information from a device.<\/li>\n<li>It helps government to track companies with a common address, common contact numbers, common directors and sudden and unexpected changes in revenue, etc.<\/li>\n<li>Implementation of schemes<\/li>\n<li>Informing beneficiary about the facility available through various scheme.<\/li>\n<li>Monitoring of Assets..<\/li>\n<\/ul>\n<p>7.<u>Geo-Tagging enabled projects of GOI.<\/u><\/p>\n<ul>\n<li><strong>Rajiv Gruhakalpa scheme <\/strong>helped Andhra government to trace irregularities in construction of houses.<\/li>\n<li>In Rashtriya Krishi Vikas Yojana Geo-Tagging helping Government to understand flow of funds, inventorying the assets, bringing in transparency.<\/li>\n<li>Geo MGNREGA and monitoring of watershed activities.<\/li>\n<li>Postal department has also geotagged the post offices using NRSC Bhuvan Platform.<\/li>\n<li>In 2016 due to denomination, Government was able to crackdown on several companies which was involved into money laundering<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Govt plans geo-tagging to crackdown on shell companies News: 1.Government is planning mandatory Geo-Tagging for companies to prevent fraud. Important Facts: 2.Geo-tagging will help the government to prevent fraud committed by Shell companies. 3.What are Shell Companies A shell company is a non-profit company. It does not have an active business or assets. It is&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/govt-plans-geo-tagging-to-crackdown-on-shell-companies\/\">Continue reading <span class=\"screen-reader-text\">Govt plans geo-tagging to crackdown on shell companies<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-27564","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704770081},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/27564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=27564"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/27564\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=27564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=27564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=27564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}