The war against black money has touched the ailing national carrier Air India. The Central Bureau of Investigation, while scrutinising a ground-handling joint venture of Air India named SATS Airport Services Private Limited (AI-SATS), has traced certain unusual business activities and has included it in a 'Confirmed List' of shell companies.
The Financial Intelligence Unit of the Union Ministry of Finance, a specialised unit that monitors suspicious cash transactions, has been forwarded this 'Confirmed List' — adding up to 16,794 entities, including AI-SATS.
Finance ministry sources told DNA that there were "four instances of cash deposits through PAN associated with AI-SATS during demonetisation". In the set of alleged 'confirmed' shell companies list, 14,246 have been identified by the I-T department, 2,015 by SFIO, the CBI has named 482 (including AI-SATS) and ED 51 companies.
This list has been updated with PAN records data as on June 1, 2017.
AI-SATS is a 50:50 JV between Air India Limited and Singapore Airport Terminal Services (now known as SATS Ltd) formed in 2010, when the UPA government was in power. It provides ground-handling services across airports in Delhi, Hyderabad, Trivandrum and Banguluru. AI-SATS had been in mired in controversy since its formation over allegations that it caused huge losses to the national exchequer. Air Corporations Employees' Union, in a letter to the chairman of the parliamentary standing committee on transport, tourism and culture, alleged that while SATS was supposed to invest Rs 400 crores, hardly a fraction of the amount actually came in.
21/09/17 DNA
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The Financial Intelligence Unit of the Union Ministry of Finance, a specialised unit that monitors suspicious cash transactions, has been forwarded this 'Confirmed List' — adding up to 16,794 entities, including AI-SATS.
Finance ministry sources told DNA that there were "four instances of cash deposits through PAN associated with AI-SATS during demonetisation". In the set of alleged 'confirmed' shell companies list, 14,246 have been identified by the I-T department, 2,015 by SFIO, the CBI has named 482 (including AI-SATS) and ED 51 companies.
This list has been updated with PAN records data as on June 1, 2017.
AI-SATS is a 50:50 JV between Air India Limited and Singapore Airport Terminal Services (now known as SATS Ltd) formed in 2010, when the UPA government was in power. It provides ground-handling services across airports in Delhi, Hyderabad, Trivandrum and Banguluru. AI-SATS had been in mired in controversy since its formation over allegations that it caused huge losses to the national exchequer. Air Corporations Employees' Union, in a letter to the chairman of the parliamentary standing committee on transport, tourism and culture, alleged that while SATS was supposed to invest Rs 400 crores, hardly a fraction of the amount actually came in.
21/09/17 DNA
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