'Anil Ambani firm got 143.7 mn euro tax waiver after Rafale deal'

Agencies
April 13, 2019

New Delhi, Apr 13: New Delhi: France waived taxes worth 143.7 million euros to a French-registered telecom subsidiary of Anil Ambani's Reliance Communications in 2015, months after India's announcement of buying 36 Rafale jets, a leading French newspaper Le Monde reported on Saturday.

In its reaction, Reliance Communications rejected any wrongdoing and said the tax dispute was settled under a legal framework which is available for all companies operating in France. The French newspaper said the French tax authorities accepted 7.3 million euros from Reliance Flag Atlantic France as a settlement as against original demand of 151 million euros. Reliance Flag owns a terrestrial cable network and other telecom infrastructure in France.

Prime Minister Narendra Modi had announced the procurement of a batch of 36 Rafale jets after talks with the then French President Francois Hollande on April 10, 2015, in Paris. The final deal was sealed on September 23, 2016. The Congress has been alleging massive irregularities in the deal, saying the government was procuring each aircraft at a cost of over Rs 1,670 crore as against Rs 526 crore finalised by the UPA government when it was negotiating the deal.

The Congress has also been targeting the government over the selection of Anil Ambani-owned Reliance Defence as an offset partner for Dassault Aviation, the manufacturer of Rafale. The government has rejected the allegations.

The French newspaper said the company was investigated by French tax authorities and found liable to pay 60 million euros in taxes for the period 2007 to 2010. However, Reliance offered to pay 7.6 million euros only as a settlement but it was French tax authorities refused to accept the amount.

The authorities conducted another probe for the period 2010 to 2012 and asked the company to pay an additional 91 million euros in taxes, the report said. It said by April 2015, the total amount owed by Reliance to the French authorities in taxes was at least 151 million euros. In October, six months after Modi announced in Paris about the Rafale deal, the French authorities accepted 7.3 million euros from Reliance as a settlement as against the original demand of 151 million euros.

A spokesperson of Reliance Communications said the tax demands were "completely unsustainable and illegal" and that the company denied any favouritism or gain from the settlement.

"During the period under consideration by the French Tax Authorities - 2008-2012 i.e. nearly 10 years ago, Flag France had an operating loss of Rs 20 crore (Euro 2.7 million). French tax authorities had raised a tax demand of over Rs 1100 crore for the same period," the official said. "As per the French tax settlement process as per law, a mutual settlement agreement was signed to pay Rs 56 crore as a final settlement," he said.

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Dodanna
 - 
Saturday, 13 Apr 2019

Just wait and see. All chores acounts will be seized and published all over India. Indian Telecom;privatized airports and seaport and Vijaya Bank all will be pulled back to its original track.

 

All chaddi back industrialit's and rIchest businessman hidden agenda will be disclosed.

 

Let the innocent Indians understood how chowkidaar and groups playing with our nations wealth.

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News Network
March 11,2020

New Delhi, Mar 11: A doctor in Kerala on Tuesday alleged that she was sacked by the management of the private clinic she was working with for informing authorities about a non-resident Indian (NRI) patient who reportedly declined to undergo the mandatory check for coronavirus.

Dr Shinu Syamalan said the patient had come to the clinic recently with suspected symptoms of the virus.

"When he was asked whether he had visited any foreign countries, he said he was coming from Qatar. But he had not reported to the Health department about his foreign trip," she said.

When he was directed to inform about his foreign travel to the state Health Department, which has been monitoring people coming from abroad for the virus, he refused and said he was going back to Qatar, she told reporters.

Concerned over the health of the person who had high fever, Ms Syamalan informed health and police authorities.

"Officials who let the patient go abroad do not have any problem, but I have become jobless," she posted on social media.

She alleged she was sacked by the management of the clinic for reporting the matter to police and informing the public about the incident through social media and through television.

"The argument of the management is that no one would turn up for treatment in the clinic if they come to know that it was visited by patients with suspected symptoms of Coronavirus," she said.

There was no immediate reaction from the management of the private health clinic.

Official sources said the District Medical Officer (DMO) at Thrissur has complained to the collector against Shinu Syamalan accusing her of defaming health officials.

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News Network
July 6,2020

New Delhi, Jul 6: India's COVID-19 tally neared the 7 lakh mark with 6,97,413 cases after 24,248 new cases were reported in the last 24 hours, said the Union Ministry of Health and Family Welfare.

As per the Health Ministry, there are 2,53,287 active cases in the country while 4,24,432 patients have been cured or discharged. While one patient has migrated.

425 new deaths were reported in the last 24 hours in the country due to COVID-19, taking the number of patients succumbing to the deadly virus to 19,693.

As per the Health Ministry, Maharashtra continues to be the most impacted state from the infection with 2,06,619 cases and 8,822 fatalities due to the virus. Tamil Nadu in second place has a total of 1,11,151 cases and 1,510 fatalities.

The national capital's COVID-19 cases are also nearing the 1-lakh mark with 99,444 coronavirus cases and 3,067 deaths.

The total number of samples tested up to July 5 is 99,69,662 of which 1,80,596 samples were tested yesterday, informed the Indian Council of Medical Research on Monday. 

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News Network
April 23,2020

Apr 23: Mukesh Ambani is again Asia's richest person after a deal with Mark Zuckerberg's Facebook Inc. sent his conglomerate's stock surging.

Ambani's fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China's Jack Ma, according to the Bloomberg Billionaires Index. The ranking updates after the close of each trading day in the U.S.

Facebook Inc. will invest $5.7 billion in the U.S. social-networking giant's biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The U.S. company will buy about 10% of Jio Platforms, which brings together digital apps and a wireless platform under one umbrella, the Mumbai-based company said in a statement Wednesday.

Before Wednesday, Ambani -- who owns the world's largest oil refinery -- had declined by $14 billion on the index in 2020, the biggest dollar fall of anyone in Asia. Alibaba Group Holding Ltd.'s Ma, whose foundation this week donated 100 million masks to the World Health Organization to fight the Covid-19 pandemic, had lost almost $1 billion through Tuesday.

"At the core of our partnership is the commitment that Mark Zuckerberg, founder of Facebook, and I share for the all-around digital transformation of India," Ambani said in a web video posted on Jio's Facebook page, adding that Facebook's brands have become household names in India. "WhatsApp in particular, has entered our people's daily vocabulary in all the 23 official languages of India."

The partnership with Jio would allow Zuckerberg to step up his expansion in a country that is rapidly embracing online payment and e-commerce as more people get smartphones. Jio Infocomm quickly moved into a position of dominance by offering free plans and undercutting wireless market rivals.

With its half-billion internet users, the South Asian country is a key market for the world's largest technology companies, including Amazon.com Inc., Apple Inc., Microsoft Corp. and Alphabet Inc.'s Google. In India, Facebook has about 250 million users, while WhatsApp has more than 400 million.

That should help Jio bolster its reach, according to James Crabtree, author of 'The Billionaire Raj,' a book on the country's wealthiest people. But the transaction also shows the extent of Ambani's own influence, he said.

"This deal clearly shows that if you want to play big in Indian tech, you need to play nice with Mukesh Ambani."

Ambani's fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China's Jack Ma, according to the Bloomberg Billionaires Index. The ranking updates after the close of each trading day in the U.S.

Facebook Inc. will invest $5.7 billion in the U.S. social-networking giant's biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The U.S. company will buy about 10% of Jio Platforms, which brings together digital apps and a wireless platform under one umbrella, the Mumbai-based company said in a statement Wednesday.

Before Wednesday, Ambani -- who owns the world's largest oil refinery -- had declined by $14 billion on the index in 2020, the biggest dollar fall of anyone in Asia. Alibaba Group Holding Ltd.'s Ma, whose foundation this week donated 100 million masks to the World Health Organization to fight the Covid-19 pandemic, had lost almost $1 billion through Tuesday.

"At the core of our partnership is the commitment that Mark Zuckerberg, founder of Facebook, and I share for the all-around digital transformation of India," Ambani said in a web video posted on Jio's Facebook page, adding that Facebook's brands have become household names in India. "WhatsApp in particular, has entered our people's daily vocabulary in all the 23 official languages of India."

The partnership with Jio would allow Zuckerberg to step up his expansion in a country that is rapidly embracing online payment and e-commerce as more people get smartphones. Jio Infocomm quickly moved into a position of dominance by offering free plans and undercutting wireless market rivals.

With its half-billion internet users, the South Asian country is a key market for the world's largest technology companies, including Amazon.com Inc., Apple Inc., Microsoft Corp. and Alphabet Inc.'s Google. In India, Facebook has about 250 million users, while WhatsApp has more than 400 million.

That should help Jio bolster its reach, according to James Crabtree, author of 'The Billionaire Raj,' a book on the country's wealthiest people. But the transaction also shows the extent of Ambani's own influence, he said.

"This deal clearly shows that if you want to play big in Indian tech, you need to play nice with Mukesh Ambani."

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