Control without Controllers: Forensic and Evidentiary Challenges in Regulating Phantom Boards in India
By: Mahi Agrawal INTRODUCTION Corporate fraud has evolved in sophistication over the past few decades, with perpetrators increasingly exploiting gaps in regulation and enforcement. Among the most troubling manifestations of this evolution is the emergence of “phantom boards,” a corporate structure that exist almost entirely on paper. Phantom boards are typically composed of dummy or nominee directors who hold titles and sign documents but wield … Continue reading Control without Controllers: Forensic and Evidentiary Challenges in Regulating Phantom Boards in India
