Ali Baba India filed fabricated documents with India
- In Reports
- 09:28 PM, Jun 21, 2022
- Myind Staff
An investigation by the Ministry of Corporate Affairs and the Mumbai Police into the Chinese tech giant Alibaba’s India unit found that some of the documents filed by Alibaba Cloud (India) LLP with the regulators were ‘false or fabricated’.
The Registrar of Companies (RoC) had filed a complaint against Alibaba, its partners and other concerned people with Mumbai Police, following which the probe was initiated.
The MCA is acting on intelligence inputs from the Union Home Ministry. Apart from Alibaba India, there are more than 700 companies that have been investigated by the MCA.
The RoC alleged criminal conspiracy, breach of trust and falsification of documents under the Indian Penal Code and the Information Technology Act. According to an ET report, the investigation revealed that Alibaba Cloud’s Indian-origin partner resigned shortly after it was incorporated in March 2017.
For example, the company’s registered address in Mumbai was non-existent. Furthermore, a CA named Anand Kidambi is alleged to have assisted the company by filing false documents. It is alleged that he incorporated Alibaba Cloud (India) LLP on March 25, 2017, with three partners: Pooja Cherian (98% shares), Tip Pak Tung Janson (1% shares), and Timothy Alexander Steinert (1% shares). Cherian moved out of the company soon thereafter.
“There is a suspicion that the firms are being used as a vehicle for money laundering. The probe is undertaken to find the source and the ultimate beneficiary of the money and if there is any political or economic connection,” one of the officials said.
The investigation in Alibaba comes at a time when several big Chinese companies operating in India are facing headwinds and regulatory skirmishes with increasing frequency. India has also banned more than 250 Chinese apps since mid-2020, including the likes of TikTok and PUBG, citing security concerns.
Image source: Economics Times
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