Kanodia-NuPower Links: I-T Searches On For Second Day


Kanodia-NuPower Links: I-T Searches On For Second Day

The Income-Tax Department conducted searches on Matix group Vice-Chairman Nishant Kanodia and others for the second consecutive day on Friday in connection with investments by his Mauritius-based Firstland Holdings into Deepak Kochhars NuPower Renewables through cumulative convertible preference shares (CCPS).

The raids are being conducted at multiple locations in Mumbai, Kolkata and West Bengal to find out links about transactions between Firstland, NuPower and other related entities in India and abroad.

Firstland is owned by Nishant Kanodia, son-in-law of Essar group’s Ravi Ruia. Read More

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