In war against black money, Modi govt steps up scrutiny of shell firms

When Prime Minister Narendra Modi banned high-denomination currency bills in a surprise move late last year, authorities noticed a surge in shell companies depositing cash in banks, seemingly in a bid to hide who owned that wealth. The moment, said a top aide to Modi, was an eye-opener for the government, which had not realized just how much shell companies were being used to hide assets and launder money. Modi’s office has formed a team of top law enforcement and revenue officials to go after such companies, according to the aide…

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BlackBerry CEO Says Tech firms need to observe Lawful access Requests

Tech corporations should follow lawful requests to get entry to covered records, BlackBerry leader executive John Chen stated on Monday, in thinly veiled grievance of rival Apple Inc for its recent standoff with the FBI. Chen made the comment in a blog posting after reviews with the aid of Vice and Motherboard closing week that threw a spotlight on a 2014 case wherein Canadian law enforcement government used intercepted messages among a few BlackBerry devices to unravel an organised crime network. The gadgets were customer telephones that were not protected…

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Large Firms, Not Universities, Are the New Startup Garages: Mahindra

Large corporations, and not necessarily reputed tech schools like IITs or MIT, are the new startup garages as big businesses race to stay relevant, Mahindra Group Chairman Anand Mahindra has said. “The new garage is not necessarily in the MIT or Stanford or the IITs. It is in fact, back in large companies. The cycle has turned, where large companies are not turning obsolete,” Mahindra told PTI. Large corporations are emulating startup ecosystems within themselves, he added. “In a sense, what we are doing is putting up a Silicon Valley…

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