Enforcement Directorate (ED) is probing money laundering cases against Bharti Airtel, Minister of State for Finance S. S. Palanimanickam informed the Rajya Sabha on Tuesday.
“Directorate of Enforcement is investigating cases under the provisions of Prevention of Money Laundering Act, 2002, and Foreign Exchange Management Act, 1999, involving M/s Bharti Airtel Ltd,” he said in a written reply.
The minister, however, did not provide additional information, saying, “It may not be in the interest of the ongoing investigations to provide any further details.”
Bharti Airtel is the country’s largest private telecom company, which offers mobile phone services under ‘Airtel’ It has operations in several other countries, including Africa.
Bharti Airtel shares were trading at Rs 305.7, down 0.57 per cent from yesterday’s close at BSE.
Keywords: money laundering case
Bharti Airtel maintains the highest standards of corporate governance and regulatory compliance and has always complied with all norms. We have provided all relevant details asked for by the authorities in this matter and will be happy to cooperate further, should the need arise
Laxmi Mittal of arcelor-mittal criticises of slow policy-making in India and here on the other side Sunil bharti mittal of Airtel proves that money-making is fast in India as the latter had reportedly started his telecom business with a meagre amount of INR 20,000 (Twenty thousand INR ) only .
"It has operations in several other countries, including Africa" but africa is not a country like Europe is not.
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