A show cause notice was issue to Anil Ambani under the Foreign Black Money Act for non-disclosure of assets worth Rs 814 crore. The notice also accused Anil Ambani of tax evasion of Rs 420 crore.
The income tax department had charged Anil Ambani with "wilful evasion" saying he "intentionally" did not disclose his foreign bank account details to the authorities.
The deal gave Adani Group a strong base in the distribution business and now Adani Transmission is India’s largest private player in the transmission and power distribution space.
It has one of the largest portfolios of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts.
The case pertains to assessment year 2013-14. Reliance Transport and Travels had debited Rs 32.12 crore as customs duty, out of which Rs 26.49 crore was claimed as business expenditure.
The sheer loss of investors’ wealth by Anil Ambani-run businesses is astounding. One by one, all his companies are going down the bankruptcy road.
Sebi in February barred Reliance Home Finance Ltd, industrialist Anil Ambani and three other individuals from the securities market for allegedly siphoning off funds from the company.
The Salgaocar family had been locked in a long legal battle in Switzerland to prevent India’s tax authorities from getting details of trusts set up by the family in that country.
The bidders have two options - either they can bid for the entire RCL or any one or more than one of the eight subsidiaries of the NBFC firm.
On Sunday, the ICIJ involving had released a 2.94 terabyte data trove, based on 12 million leaked documents linked to wealthy elites from over 200 countries.
Rahul reiterated the Congress' demand for a JPC probe into the fighter jet deal and claimed that if it was conducted, names of Prime Minister Narendra Modi and businessman Anil Ambani will come out.
Congress was referring to reports on former France President Francois Hollande's claims regarding a private Indian firm becoming an offset partner in the intergovernmental deal for the fighter jets.
Bhushan questioned how Anil Ambani's Reliance Defence, the Indian offset partner of French firm Dassault Aviation, could be involved in the project as "most of his companies are in debt."
Indian political parties have been accusing Modi over the 2016, 36 Rafale planes from Dassault estimated to be worth $8.7 billion, saying he had overpaid for the planes and had not been transperant
The statement came following a French media report which quoted former President Francois Hollande as saying that the Indian government proposed Reliance Defence as the partner for Dassault Aviation.
Hollande on a question about who selected Reliance as a partner and why, said it was the Indian govt that proposed Reliance’s name and Dassault had no choice but to take the company given to it.
The opposition party also dared the government to move the court against the allegations, saying it will be forced to reveal the details of the deal which it is hiding.
The civil defamation suit was filed by Reliance Defence, Reliance Infrastructure and Reliance Aerostructure against the Associated Journals Limited, the publisher of the National Herald.
Gandhi has been attacking the BJP government for allegedly inking the deal at a much higher price than the one the previous UPA regime had negotiated to benefit "one businessman".
The Congress leaders said they will not be scared or silenced by notices sent by the group, which have been sent to several spokespersons and other leaders of the party.