Income Tax Department seizes foreign funds worth $40 million of Ratul Puri, nephew of Kamal Nath
Saturday, July 12, 2025
  • Careers
  • Janam TV Malayalam
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Services
Janam TV English
  • ‌
  • News
    • Kerala
    • India
    • Gulf
    • World
  • Business
  • Defence
  • Tech
  • Science
  • Health
  • Sports
  • Entertainment
  • ‌
    • Travel
    • Lifestyle
    • Auto
    • Podcast
    • Guest Column
No Result
View All Result
  • ‌
  • News
    • Kerala
    • India
    • Gulf
    • World
  • Business
  • Defence
  • Tech
  • Science
  • Health
  • Sports
  • Entertainment
  • ‌
    • Travel
    • Lifestyle
    • Auto
    • Podcast
    • Guest Column
No Result
View All Result
Janam TV English
No Result
View All Result
  • News
  • Business
  • Defence
  • Health
Home News India

Income Tax Department seizes foreign funds worth $40 million of Ratul Puri, nephew of Kamal Nath

by Janam Web Desk
Aug 12, 2019, 10:45 am IST
in India

New Delhi: The Income Tax department has seized a Rs. 300-crore bungalow in Delhi under the anti-Benami law in its probe against Ratul Puri, nephew of Madhya Pradesh Chief Minister Kamal Nath, and Deepak Puri. The tax department also seized foreign funds worth $40 million.

Also, the properties of both under Benami Property Transactions Act, including one immovable property registered in name of Ramaa Advisors Pvt Ltd. situated at APJ Abdul Kalam Road has been attached, according to the sources.

“The immovable property at 27A APJ Abdul Kalam Road was purchased utilizing a Foreign Direct Investment of USD 3 Million from a BVI based shell company namely Bronson Financial Inc. on a long term basis for the purposes of software development in 2002,” the source informed.

“Investigation revealed that unaccounted funds of promoters were round-tripped through BVI based shell entity. The recipient company never commenced its business of software development. Instead, entire FDI was diverted for the acquisition of house for use by the promoters Ratul Puri and his family. The market value of his property is estimated to be more than Rs 300 crores,” it said.

In April, tax officials conducted raids at Ratul Puri’s companies and had said they had found documents of illegal transactions and tax evasion worth Rs.1,350 crore. It was on the basis of these raids that the tax department initiated proceeding under the anti-Benami law.

Hours after a Delhi court issued a Non-Bailable Warrant (NBW) against Ratul Puri on Friday, he denied his involvement in the AgustaWestland VVIP chopper scam and called the issuance of the warrant as “unfortunate”.

The case pertains to alleged irregularities in the purchase of 12 VVIP choppers from Italy-based Finmeccanica’s British subsidiary AgustaWestland.

Tags: FEATURED
ShareTweetSendShareSendShare

Related News

Kerala

Maoist attack in Wayanad: Police register case under UAPA

Kerala

Members of a pro-CPI(M) organization boycotts election and goes vacationing to protest against policies of left government

India

ABVP submits memorandum to RBI governor demanding strict action against unlawful freezing of Bihar State Universities’ Bank Accounts

Latest News

Weapons spotted in a vehicle used for election campaign of CPI(M)’s Alathur candidate K Radhakrishnan

ABVP writes to NBEMS Chairperson demanding reduction in GPAT-2024 application fee

Congress helped PFI and received their support in return; Communists are vying for PFI support: Says Amit Shah in Alappuzha

Police remove boards welcoming BJP leader K Annamalai to Wayanad

Maoists order locals in a village at Wayanad to boycott the election

Sandeshkhali horror: ABVP sends 6-point memorandum to President Murmu, demands deployment of central forces at Sandeshkhali

Ex-serviceman, whose leg was chopped off by CPI(M), campaigns for Alappuzha NDA candidate Shoba Surendran

Surendran says there is conspiracy behind police action to block image of Lord Ram during Thrissur Pooram

  • Careers
  • Janam TV Malayalam
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Services

© Janam Multimedia Limited

No Result
View All Result
  • ‌
  • News
    • Kerala
    • India
    • Gulf
    • World
  • Business
  • Defence
  • Tech
  • Science
  • Health
  • Sports
  • Entertainment
  • ‌
    • Travel
    • Lifestyle
    • Auto
    • Podcast
    • Guest Column

© Janam Multimedia Limited