I didn't quite get this example, could you please elaborate?
Say we have Adani Cow Urine India that made $10M in FY21 and $5M in FY22. To not report a drop of $5M, Adani starts a shell company Adani Cow Urine Singapore sometime in FY22, but how does that help him? If Adani Cow Urine India doesn't report revenue for FY22 but Adani Cow Urine Singapore does, doesn't everyone figure out that Adani Cow Urine Global has lower revenues overall?
You underestimate the power of a good accountant. Did you know that Forrest Gump “technically” lost money at the box office? Given enough financial wizardry, anything is possible.