City
Epaper

Mumbai's Motech Software in Swiss black money trail?

By IANS | Updated: September 27, 2019 18:50 IST

Mumbai-based low-profile company, Motech Software Pvt. Ltd., with ex MP Annu Tandon - whose husband Sandeep Tandon worked with RIL - as its MD, could be allegedly involved in the Swiss black money trail sought to be unearthed by India.

Open in App

However, as per some reports not confirmed, Motech Software had later - at an unspecified date - snapped ties with Reliance Group.

According to a gazette notification this week, Switzerland's Federal Tax Administration (SFTA) has sought the company's help in the probe sought by Indian authorities to investigate the matter.

The 19-year old company - with its directors shown as Kesavan Varadarajan and Kaushik Vrajdas Ved - is suspected of allegedly stashing millions of dollars in Swiss banks through a maze of offshore companies.

The SFTA notice has called upon Motech Software Pvt. Ltd. to nominate a person within 10 days for exercising its right to appeal against the move by the Swiss authorities to part with relevant information to India.

Motech Software Pvt Ltd is said to be a global consultancy organization providing comprehensive business and IT solutions in complete package including Business Consulting, Managed and Project Services and Professional Services.

Its CIN is stated as U72200MH2000PTC123803, Registration No. is 123803 with its registered office at No. 56, Mogra Village Lane, Off Old Nagardas Road, in the Andheri business hub of suburban Mumbai.

The Registrar of Companies (RoC) records shows the private unlisted company's status as "active", with a paid-up capital of Rs 5 crore and the last AGM held in December 2011.

With financial investments originally by RIL, the company continuously invests in building expertise in industry domains in a wide range of services, platforms and technology, having ability to undertake large turnkey projects anywhere in India or abroad.

It has advertised its service expertise spanning across four major verticals - Finance, Retain & Distribution, Manufacturing, Telecom & Communication Media.

( With inputs from IANS )

Tags: indiaReliance Group
Open in App

Related Stories

BusinessAnil Ambani’s Reliance Power and Reliance Infra Share Price Zoom Amidst ED Raids In Six Locations

BusinessAnil Ambani’s Reliance Power Shares Surge After ₹100 Crore Deal With Biotruster, as Nifty and Sensex Remain Flat

BusinessAnil Ambani’s Reliance Power Share Price Surge After ₹99 Crore Deal With Singapore Based Company

CricketIND vs PAK 2025 Live Streaming: Head-to-Head Record, When and Where to Watch India vs Pakistan Asia Cup Final

NationalRajnath Singh and Abdeltif Loudiyi Sign MoU on Defence Cooperation; Focus on Counter-Terrorism, Cyber Security, and Maritime Safety (Watch Video)

कारोबार Realted Stories

BusinessSBI sees inflation below RBI projections, calls it a regulatory policy too

BusinessExpect 1 more policy rate cut by RBI this fiscal: Report

BusinessNITES alleges TCS forced 2,500 employees in Pune to resign

BusinessRBI raises IPO financing limit to Rs 25 lakh and loan against shares to Rs 1 cr

BusinessHyundai, Kia's US sales up 12.1 pc in Sep on robust EV demand