Shares in Indian developers Parsvnath Developers, Pincon Spirit, Signet and others have dropped by up to 20% after a crackdown on shell companies. Signet Industries plummeted 19.96 per cent to Rs 8.94 — its lower circuit limit. The government has also been cracking down on the use of offshore companies for tax evasion purposes, with some firms being shut down.
Shares in Indian developers Parsvnath Developers, Pincon Spirit, Signet and others have dropped by up to 20% after a crackdown on shell companies. The government has also been cracking down on the use of offshore companies for tax evasion purposes, with some firms being shut down.