a) The term ‘shell company’ is not defined under the Companies Act, 2013.
b) Shell company is trading firm not often listed on a stock exchange.
c) Both a and b
d) Neither 1 Nor 2
Shell company is a non-trading firm formed (and often listed on a stock exchange) as a vehicle to
(1) raise funds before starting operations,
(2) attempt a takeover,
(3) for going public, or
(4) as a front for an illegal business.