Gupta brothers to appear before Indian tax authorities – report

The Gupta brothers will reportedly have to explain how they 'amassed' 120 properties in India.

Ajay and Atul Gupta. File photo

After they were previously granted a 10-day extension on March 16, the Gupta brothers will face Indian tax authorities to explain their expansive portfolio of reportedly about 120 properties in that country.

On a previous encounter, the Gupta brothers sent their accountant. This move appears not to have helped much, as they have been summoned to explain to the tax authorities how they have “amassed” their wealth.

Various local and Indian sources have confirmed that the brothers could reportedly be charged with money laundering and fraudulently obtaining properties.

Amrendra Kumar‚ a senior income tax official in India’s Uttar Pradesh state‚ previously told Reuters the Gupta brothers were suspected of finding ways to bring “illicit money” into India.

The Indian tax authorities previously raided Gupta properties in Dehradun and Saharanpur on March 6. Jagran.com reported 125 Gupta-linked properties were identified in the raids.

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On Sunday, The Times of India reported that tax authorities were also probing the relationship of the Gupta brothers with aviation company Heritage Aviation Private Limited that operates helicopters in Kedarnath‚ Uttarakhand.

A tax official said: “The firm will have to explain its dealings with people close to the Gupta brothers. The firm had leased a chopper from the Gupta brother’s firm [Sahara Computers].”

A company director‚ Rohit Mathur‚ said: “My firm has a joint venture with the company belonging to the Gupta brothers, and I know them as business partners.”

The Gupta brothers suffered a setback in their multipronged legal battle with authorities from several countries when the Johannesburg High Court ruled last week that they must return their Bombardier jet to the Lanseria airport.

This was in order for court proceedings currently under way, on the loan they obtained from Export Development Canada (EDC) through Heritage Aviation Private Limited, to be concluded.

EDC’s urgent application for the aircraft to remain grounded was launched in February 15, with the court ordering the civil aviation authority (CAA) also ordered to deregister, meaning it cannot fly anywhere.