Switzerland has agreed to share with Indian authorities details about two companies and three individuals facing multiple probes back in India.
One of the firms, Geodesic Ltd, has already faced markets regulator Sebi’s wrath for multiple violations. It is no longer a listed entity as trading in its shares has been suspended.
The other firm, Aadhi Enterprises Pvt Ltd landed in trouble for alleged links to tainted politicians and for alleged money-laundering.
According to gazette notifications, Switzerland’s Federal Tax Administration has agreed to provide “administrative assistance” to India on requests regarding Geodesic and Aadhi. Similar requests have been accepted for three individuals associated with Geodesic — Pankajkumar Onkar Srivastava, Prashant Sharad Mulekar and Kiran Kulkarni.
The two companies and the individuals can appeal against the FTA’s decision.
