Monday, June 27, 2022
  • Janam TV Malayalam
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Services
Janam TV English
  • Home
  • News
    • Kerala
    • India
    • Gulf
    • World
  • Business
  • Defence
  • Tech
  • Science
  • Health
  • Podcast
  • More …
    • Travel
    • Entertainment
    • Lifestyle
    • Sports
    • Guest Column
    • Auto
No Result
View All Result
  • Home
  • News
    • Kerala
    • India
    • Gulf
    • World
  • Business
  • Defence
  • Tech
  • Science
  • Health
  • Podcast
  • More …
    • Travel
    • Entertainment
    • Lifestyle
    • Sports
    • Guest Column
    • Auto
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
ShareTweetSendShare

Related News

‘Jananayakan’ awards presented; Janam TV’s mission is historical, says Goa Governor
News

‘Jananayakan’ awards presented; Janam TV’s mission is historical, says Goa Governor

Won’t appear before CB now, says Swapna Suresh; submits anticipatory bail plea again
News

Won’t appear before CB now, says Swapna Suresh; submits anticipatory bail plea again

Cannot justify, not the proper way to show variance; Sitaram Yechury on SFI attack
News

Cannot justify, not the proper way to show variance; Sitaram Yechury on SFI attack

Latest News

Internal Grievance Redressal Cell in each film set: Decision taken at the Film Organization Meeting

Internal Grievance Redressal Cell in each film set: Decision taken at the Film Organization Meeting

G-7 Summit: PM meets various world leaders

G-7 Summit: PM meets various world leaders

India, UK to hold fifth round of FTA talks next month in Delhi

India, UK to hold fifth round of FTA talks next month in Delhi

Great acceptance for Agnipath: IAF alone received over 60,000 applications

Great acceptance for Agnipath: IAF alone received over 60,000 applications

Two DYFI activists arrested in Gandhi statue vandalism case

Two DYFI activists arrested in Gandhi statue vandalism case

Sri Lankan financial crisis: Schools closed; Work from home to save fuel

Sri Lankan financial crisis: Schools closed; Work from home to save fuel

Akhilesh Yadav is very arrogant, he cannot defeat BJP, Owaisi’s criticism

Akhilesh Yadav is very arrogant, he cannot defeat BJP, Owaisi’s criticism

Militant dies in Kulgam : Police

Militant dies in Kulgam : Police

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

© Janam Multimedia Limited

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

© Janam Multimedia Limited