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  21. jinda55 January 21, 2025 at 5:37 pm - Reply

    Indian court to try Naveen Jindal over alleged coal scam
    By REUTERS

    Published: 15:12 GMT, 29 April 2016 | Updated: 15:12 GMT, 29 April 2016

    e-mail

    MUMBAI, April 29 (Reuters) – An Indian court on Friday ordered businessman Naveen Jindal to
    face trial on charges of criminal conspiracy over an alleged scam involving government
    allocations of coalfields.

    Naveen Jindal is chairman of Jindal Steel and Power which
    said in a statement it denied any wrongdoing by the company
    or its management, adding the coal block allocation to the company had been made on merit.

    The special court — which was set up to hear cases related to the alleged scam — will specify
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    coalfields, which the state auditor said in 2012 might have cost India
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    In 2014, the Supreme Court of India revoked the allocation of more than 200 coal blocks which were sold by the government.

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    JSW Energy Ltd, run by Naveen’s elder brother Sajjan Jindal.
    ($1 = 66.5175 Indian rupees) (Reporting by Promit Mukherjee and Suchitra Mohanty;
    Editing by Alexander Smith)

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  23. Riches777 January 21, 2025 at 5:53 pm - Reply

    For someone who displayed such moral fortitude in voting to take Britain out of the EU, how
    sad that Sir Jim Ratcliffe feels no sense of patriotic duty when it comes to paying taxes in this country.

    Sir Jim, Britain’s richest man with a £21billion fortune to his name,
    may be known in business circles for shying away from the public gaze and
    eschewing the sort of stunts that turned fellow business magnates Lord Sugar and Sir Richard Branson into household names.

    But the 65-year-old must have known how damaging
    it would be to flee to Monaco at the height of the Brexit
    negotiations. 

    Whatever his true reasons for leaving, his move will be seized on by Remainers as
    a symbolic act of desertion.

    Sir Jim, Britain’s richest man with a £21billion fortune to his name, is
    said to be taking his money to Monaco – a known tax haven

    Sir Jim has declined to comment – a spokesman for his company said only that it was a ‘personal matter’

    What a stark contrast with Peter Hargreaves, another high-profile billionaire
    supporter of Brexit within the business community. 

    The founder of the financial giant Hargreaves-Lansdowne has always been proud of paying his taxes here,
    and this week showed his belief in Britain by saying he would bet his entire fortune that opting for a
    no-deal Brexit would be this country’s best option.

    Although Sir Jim has declined to comment – a spokesman for his company said only that it was a ‘personal matter’ –
    his choice of destination speaks volumes. 

    RELATED ARTICLES

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    Monaco is Europe’s premier tax haven, already
    home to a soulless list of mega-rich British celebrities who knowingly choose to pay less than they could and should towards schools, roads and hospitals
    in the country of their birth.

    Such figures are presented, in the cartoonish rhetoric of the Left,
    as a damning indictment of the capitalist system – proof that the super-rich are an exploitative, out-of-touch elite with
    no regard for ordinary people and no gratitude for the
    opportunities given them in the United Kingdom.

    The tragedy is that Sir Jim Ratcliffe ought to be a shining example of all that is best about aspiration. 

    Billionaire Ratcliffe was born to a joiner and office worker in 1952 in Failsworth, on the outskirts of
    Manchester (pictured Sir Ratcliffe’s yacht)

    Monaco is Europe’s premier tax haven, already home to a soulless list of mega-rich British celebrities (stock picture)

    As a council house boy who grew up to be Britain’s
    richest man, he embodied the meritocratic ideals of a system that
    empowers people, no matter how lowly their background, to make the best of their lives.

       
    More from Dan Hyde for the Daily Mail…

      DAN HYDE: We must not give in to the bullies who would
    have their way with our finances if left unchallenged 28/08/18

      DAN HYDE: If Mr Hammond thinks our pensions are a ‘pot of gold’ to be raided, he’s playing with fire  27/08/18

      DAN HYDE: Overhaul archaic annuity rules and allow savers to cash in 14/08/18

      DAN HYDE: Take insurers to task and make them explain why they’re putting up the premium 07/08/18

      Stop smart meter folly: Ministers must stop the rush to get the gadgets into
    every British home, says DAN HYDE 31/07/18

      DAN HYDE: Shame on Nationwide for penalising customers who don’t use
    the internet and can’t get out and about easily 24/07/18

      DAN HYDE: Savers are being failed by NS&I with yet another drastic cut to returns 17/07/18

      DAN HYDE: Internet giants must do their part to protect us from crooks and fraudsters 26/06/18

      DAN HYDE: Big banks listen to you and prove they can get it right if they lay aside their rivalries 12/06/18

      VIEW FULL ARCHIVE

    Born to a joiner and office worker in 1952 in Failsworth,
    on the outskirts of Manchester, Ratcliffe spent the first
    three years of his life in a council house. 

    He went on to attend Beverley Grammar School in East Riding, after the family moved to Yorkshire.

    In the Seventies, he accepted a place at the University
    of Birmingham, where he studied chemical engineering. That degree – in those days paid
    for entirely by the taxpayer, of course – would be his ticket to vast riches.

    By 1992, Ratcliffe had remortgaged his house
    to lead a buyout of British Petroleum’s chemicals
    business.

    From there, he would go on to found Ineos, the chemicals giant where
    he remains chairman and chief executive.

    As it has grown into a sprawling empire, the company, which has an annual turnover of about £45 billion, has become a major UK employer with
    more than 10,000 British staff.

    One wonders quite what they will make of all this as they dutifully pay
    every penny in tax to the Exchequer.

    In 2010, Ratclifee spectacularly fell out with the then Labour government over a £350million VAT bill that Ineos was due to pay HM Revenue & Customs

    Wise old heads among Sir Jim’s staff may be less surprised by his plans.

    After all, this isn’t the business mogul’s first run-in with the tax
    authorities.

    In 2010, he spectacularly fell out with the then Labour government over a
    £350million VAT bill that Ineos was due to
    pay HM Revenue & Customs. 

    Sir Jim asked if the payment could be delayed six months, but was refused.
    His reaction was ruthless, taking the company headquarters to Switzerland, another famously low-tax regime, to save Ineos
    a reported £100million a year.

    He returned to set up a UK headquarters in Knightsbridge –
    and take up residence in affluent Chelsea – in 2016, but only after the Tories had moved
    to slash corporation tax from 28 per cent to 20 per cent.

    Sir Jim is an astonishingly successful entrepreneur whose business acumen and risk-taking
    has brought much good to this country.

    He deserves to be a wealthy man, but when you have £21billion,
    do you really need to kiss goodbye to your own country just to make sure your pockets stay full
    to bursting?

    Brexit

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