Allegations denied: A man walks past a shop painted with an advertisement of Reliance in Mumbai. Reliance has issued a denial after a newspaper reported that four years ago France dropped a demand for about US$159mil in taxes owed by its subsidiary in Europe. — Reuters
NEW DELHI: Reliance Communications Ltd has denied it received favourable treatment by France in settling a tax dispute at a time when it was negotiating to become Dassault Aviation SA’s partner for a contract to sell fighter jets to India.
The Indian company, owned by former billionaire Anil Ambani, issued the denial after Le Monde newspaper reported on Saturday that four years ago France dropped a demand for about US$159mil in taxes owed by Reliance’s subsidiary in Europe.
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