Home/ Companies / News/  Jilian Consultants operations stalled after SFIO probe

NEW DELHI : Jilian Consultants India Pvt. Ltd, which helped Chinese investors set up businesses in India, said its operations have stalled after a probe was initiated by Serious Fraud Investigation Office (SFIO) for allegedly setting up shell companies in India. It has, however, denied the charges.

In a statement to Mint, Jilian Consultants has said it has promoted India-China cross-border investments in the last five years and helped Indian businesses to invest abroad. Jilian is one among 33 firms facing SFIO probe. According to the ministry of corporate affairs, a Jilian employee was arrested as he “clearly emerged as the mastermind of the racket as he incorporated a large number of shell companies with Chinese links in India, and provided dummy directors on their boards".

However, the company said all its operations are bona fide. “Jilian, being a reputed professional consultancy, provided services in incorporation to some Chinese enterprises in India and their businesses involved trade, precision equipment, mobile phone accessories, logistics, medical and other industries." It also offered human resource consultancy and pay-roll management services to Chinese companies in India, the company said.

Jilian has followed Indian laws in letter and spirit and not violated any law while incorporating companies and providing services. “We have not facilitated to incorporate any shell company in India nor facilitated or done siphoning off of any funds from India to China," it said. “Rather, in the five years since Jilian is working in India, it helped bringing in more revenue for the government and the Indian market by helping Chinese investors to set up business in India." The company also said it has worked hard to promote China-India cooperation.

Email queries to corporate affairs ministry as well as SFIO spokespersons on Wednesday did not elicit any response.

The company also claimed it has helped Indian companies to invest in China, Russia, the US, Canada and Europe, and contributed in cooperation and mutual benefits to both China and India. “However, Jilian is forced to stop working. Its operations have come to a complete halt, and even tasks such as sending emails, contacting clients or attending meetings cannot be carried out," it added.

Gireesh Chandra Prasad
Gireesh has over 22 years of experience in business journalism covering diverse aspects of the economy, including finance, taxation, energy, aviation, corporate and bankruptcy laws, accounting and auditing.
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Updated: 29 Sep 2022, 11:23 PM IST
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