The income tax department has sought to prosecute Reliance Group Chairman Anil Ambani under the Black Money Act for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts.
Get latest articles and stories on India at LatestLY. The income tax department has sought to prosecute Reliance Group Chairman Anil Ambani under the Black Money Act for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts. India News | I-T Dept Issues Prosecution Notice to Anil Ambani for Holding Secret Funds in 2 Swiss Bank Accounts.
The trending stocks such as PVR, INOX, Reliance Infra, Reliance Power, Adani Total Gas, Airtel, Infosys, and others are likely to be in focus on Monday.
In a separate filing to the stock exchange, Reliance Infrastructure said that Anil Ambani has stepped down from its board "in compliance of SEBI interim order".