Rafale Row: Anil Ambani's $162 million debt was cleared by France months after NDA deal
Amidst ongoing controversy around the Rafale deal, a French media house has reported that the France authorities have waived off $162 million loans of Anil Ambani’s France-based telecom company called "Reliance Atlantic Flag France", a few months after the PM Modi government sealed the deal with France in 2015.
According to a report by France-based local media outlet Le Monde, the tax dispute was settled by October 2015 when India and France-based Dassault Aviation were negotiating the Rafale deal.
Six months after Modi's Rafale announcement, the French tax authorities accepted 7.3 million euros from Reliance as a settlement, instead of the much bigger sum of 151 million euros.
— julien bouissou (@jubouissou) April 13, 2019
The local media report claimed that French tax authorities had investigated Anil Ambani's Reliance Atlantic Flag France and found liable to pay 60 million euros for the period 2007 to 2010.
However, Reliance Atlantic Flag France offered to pay 7.6 million euros as taxes debt, however, it was not accepted by the French authorities. Later, further investigation had been conducted for the period 2010 to 2012, the report said.
Reliance offered to pay 7.6 million euros as a settlement. The French tax authorities refused. They conducted another investigation for the period 2010 to 2012 and asked for an additional 91 million euros in taxes.
— julien bouissou (@jubouissou) April 13, 2019
The probe revealed that Reliance Atlantic Flag France was asked for an additional 91 million euros in taxes when PM Narendra Modi announced the Rafale deal with France-based Dassault In April 2015, the report said. However, six months after the Rafale deal was sealed, French tax authorities agreed for a settlement.
Opposition leader including, Congress president Rahul Gandhi has been targeting Prime Minister Narendra Modi-led government over the Rafale deal with France.
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First published: 13 April 2019, 13:44 IST