The profits tax (I-T) department has linked $40 million international deny funding (FDI) and a R300-crore value bungalow in upscale Lutyens’ Delhi of Ratul Puri — the nephew of Madhya Pradesh chief minister Kamal Nath — and his father Deepak Puri below benami property transactions regulations, govt officials stated.
Constant with officials, the bungalow is found at APJ Abdul Kalam Boulevard, which became purchased the employ of international funding via a shell firm.
I-T officials declined to produce particular details of the attachments, nonetheless stated they’ve taken the movement in accordance to credible data.
“The firm is blind to any such fashion and attributable to this fact wrong to observation on it. Hindustan Energy and its promoter comprise conducted the industrial in accordance to most realistic doubtless requirements of company governance,” a spokesperson who represents Ratul Puri stated.
A Delhi court docket had final week issued a non-bailable arrest warrant in opposition to Ratul Puri in reference to an Enforcement Directorate (ED) probe of alleged bribery within the R3,600 crore AgustaWestland helicopter deal.
Ratul Puri’s counsel denies Puri’s role within the case.
The Puris had been below the scanner of agencies such as I-T department and the Enforcement Directorate on funds of tax evasion and money laundering.
This is the 2nd major attachment of Puri’s properties in about a fortnight. Final month, the department linked equity shares value R254 crore connected to companies promoted by Ratul Puri after it discovered that the transaction became allegedly made via shell companies bright a suspect within the Agusta case, officials stated on the situation of anonymity.
The movement became additionally initiated below the Prohibition of Benami Property Transactions (prohibition) Act since the R254-crore funding became it sounds as if generated via over-invoicing of imports of solar panels by one of many neighborhood companies of Puri and the transactions took plot via some distance flung places shell companies, the officials stated.
The agencies had conducted raids on Puri’s companies in April this year and discovered quite rather a lot of evidences of tax evasion value R1,350 crore. The ED is investigating Puri’s involvement in money laundering, the officials stated.
Aug 11, 2019 20: 36 IST