Carving up a Business Empire Through Tax Havens: The Ambani Way - Paranjoy Guha Thakurta

Read the complete story here -
https://newsclick.in/carving-business...

Internal documents of the Income Tax Department relating to an investigation into the assets held in various offshore accounts by Indians tell an amazingly convoluted story of how the late Dhirubhai Ambani’s international personal investments were channeled into a complex corporate structure involving holding companies located in multiple tax haven jurisdictions and bank accounts in Switzerland, following his death on July 6, 2002.

This structure allegedly sought to stash more than ₹2,100 crore away from the gaze of the country’s tax authorities in accounts in a Geneva branch of the HSBC Bank.

An expose by Paranjoy Guha Thakurta & Abir Dasgupta

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