Shareholding transparency in Indian companies

In the much written about Indian Premier League (IPL) disclosures of cricket, politicians and money laundering, it is clear, our private limited companies should be required to disclose more. The shareholding of Indian private limited companies is often used as a means of masking shareholding in either holding of shares in public listed companies through a web of holdings by promoters or as in this case, an insidious web of international tax haven companies having shareholding in these private companies. While much discussion will rightly be devoted to tax havens as a source of money laundering, we also need to discuss the extent of improving disclosures in shareholding of private limited and public limited companies. Disclosure will be the best disinfectant.