In two recent cases, the ED has seized the office space and immovable properties of companies which had used regular banking channels to transfer funds abroad under ODI route. While the companies under question remitted tax paid money and did not use hawala operators, they nonetheless faced harsh actions for using the ODI window to buy properties for personal use and hold funds abroad in an outfit that apparently had no bona fide business activity
Mcap of top-10 most valued firms slumps Rs 4.95 lakh cr; TCS, Reliance hardest hit
The combined market valuation of all the top-10 most valued firms plunged Rs 4,95,061 crore last week, in line with a bearish trend in equities,
December 22, 2024