I-T dept conducts survey at Mumbai offices of Hinduja Group

New Delhi: The Income Tax officials on Wednesday conducted survey operation at some of the offices of Hinduja Group based in Mumbai over alleged tax evasion.

Reports said that the residence of Ashok Hinduja, the chairman of company’s India business was also surveyed.

The survey at Hinduja Group’s Mumbai offices were undertaken regarding investigation into alleged tax evasion. As the I-T rules for survey operation, only offices of any group could be covered.

Some reports said that the investigation was to check whether there was any General Anti-Avoidance Rules (GAAR) violations in the business group.

Income Tax Department conducts a survey action on Hinduja Global Solutions in Mumbai. Survey on Ashok Hinduja also underway. Details awaited.

— ANI (@ANI) November 29, 2023

The business conglomerate has been recently diversifying into new fields with ambitious plan to unleash ‘new phase’ of growth. The company has made foray into digital and fintech businesses and is trying to fill gap through acquisitions.

About Hinduja Group

The Hinduja Group is a multinational conglomerate with diverse portfolio, spreading across several sectors including banking &finance, media, oil & pas and power, real estate and healthcare.

The conglomerate holds major stake in leading companies like IndusInd Bank, Gulf Oil, Hinduja Global Solutions (HGS), and Ashok Leyland.

The group had its foundation in 1914 in India but over the years, it recorded exponential growth and emerged as multinational firm. Today, it has big significant footprint in Europe, the Middle East, Asia, and the Americas.