Vasan Eye Care and Rs 223 Crore Black Money
Karthi Chidambaram owned Advance Consulting & it made illicit gain of Rs 112.5 cr by buying Vasan Eye care shares for Rs 100 a share & selling at Rd 7500 a share
> JD Group gave Rs 8.64 cr loan free of interest to Vasan Eye Care group — in cheque. It also gave substantial amount of Rs 40 cr in cash — that is, black money — ‘all on a single day’, ‘as a single transaction’ to one Dr A M Arun, Vasan Eye Care’s original promoter. The cash paid to Arun went to an influential politician in Tamil Nadu who was a Cabinet minister in the UPA regime for 10 years. What is JD Group? Which is Vasan Eye Care? And who is Dr A M Arun?
M Srinivasa Rao, Commissioner of Income Tax (Central) was transferred for one reason his fault he opened the can of worms in the JD Group discovering the serious tax fraud.
> In his petition (June 16, 2015) to the Central Administrative Tribunal (CAT), Delhi, against his transfer that he termed as malafide. The top official’s serious charge in the petition was based on the evidence uncovered in a tax search on the JD Group. Srinivasa Rao swears that his transfer was ‘to punish him for not heeding to the unlawful expectations’ of higher officials who ‘conveyed’ to him ‘repeatedly… to go soft on the tax evaders and money launderers’.
Full story here - http://www.newindianexpress.com/states/tamil-nadu/2015/sep/17/P-Chidambaram-Vasan-Eye-Care-and-Rs-223-Crore-Black-Money-815908.html
Rao says he is Palaniappan Chidambaram (PC) — the media celebrity finance minister in the UPA regime, who had headed the Income Tax department for almost two-thirds of UPA’s 10-year term and appointed most of those who head it now
The JD Group was raided by Income Tax officials in December 2014 — six months after the new government took over. But most officers would be transferred who were investigating this case, even though P Chidambaram was out of power he still ran the show.
Rao also asserts that Chidambarams acquired Vasan through front companies in Mauritius and Singapore. Its convoluted ownership structure was designed to hide who its true owner is.
Vasan's turnover till 2008-09 was just Rs 13 cr it rose to Rs 604 cr in 2012-13! How did the turnover jump 20 times in just one year and some 38 times in three years itself
... keep reading on reddit ➡He is explained how similar situation was handled in 2008.
https://twitter.com/pchidambaram_in/status/1253984044733419520?s=21
Blast from the past:
Vasan Eye Care and Rs 223 Crore Black Money
Karthi Chidambaram owned Advance Consulting & it made illicit gain of Rs 112.5 cr by buying Vasan Eye care shares for Rs 100 a share & selling at Rd 7500 a share
>JD Group gave Rs 8.64 cr loan free of interest to Vasan Eye Care group — in cheque. It also gave substantial amount of Rs 40 cr in cash — that is, black money — ‘all on a single day’, ‘as a single transaction’ to one Dr A M Arun, Vasan Eye Care’s original promoter. The cash paid to Arun went to an influential politician in Tamil Nadu who was a Cabinet minister in the UPA regime for 10 years. What is JD Group? Which is Vasan Eye Care? And who is Dr A M Arun?
M Srinivasa Rao, Commissioner of Income Tax (Central) was transferred for one reason his fault he opened the can of worms in the JD Group discovering the serious tax fraud.
>In his petition (June 16, 2015) to the Central Administrative Tribunal (CAT), Delhi, against his transfer that he termed as malafide. The top official’s serious charge in the petition was based on the evidence uncovered in a tax search on the JD Group. Srinivasa Rao swears that his transfer was ‘to punish him for not heeding to the unlawful expectations’ of higher officials who ‘conveyed’ to him ‘repeatedly… to go soft on the tax evaders and money launderers’.
Full story here - http://www.newindianexpress.com/states/tamil-nadu/2015/sep/17/P-Chidambaram-Vasan-Eye-Care-and-Rs-223-Crore-Black-Money-815908.html
Rao says he is Palaniappan Chidambaram (PC) — the media celebrity finance minister in the UPA regime, who had headed the Income Tax department for almost two-thirds of UPA’s 10-year term and appointed most of those who head it now
The JD Group was raided by Income Tax officials in December 2014 — six months after the new government took over. But most officers would be transferred who were investigating this case, even though P Chidambaram was out of power he still ran the show.
Rao also asserts that Chidambarams acquired Vasan through front companies in Mauritius and Singapore. Its convoluted ownership structure was designed to hide who its true owner is.
Vasan's turnover till 2008-09 was just Rs 13 cr it rose to Rs 604 cr in 2012-13! How did the turnover jump 20 times in just one year and some 38 times in thre
... keep reading on reddit ➡