Ambani’s this company didn’t earned anything in 2016. Instead, it was facing Rs 9 lakh loss. In 2017, this company had earned only Rs 6 lakh but had Rs 10.35 lakh loss. The same company earns Rs 284.19 crore in 2017-18. How?
Rafale deal has been in controversy for quite a time. There are allegations that Rafale deal was given to Ambani’s company without any competition. Now, new allegations are surfacing around the two companies which did joint venture in Rafale deal, i.e., Reliance and Dassault.
According to The Wire’s report, Anil Ambani’s company which was in losses made whooping Rs 284 crore profit after getting Dassault investment. This means that there was some ‘strong links’ between Dassault and Reliance company. There have been constant denials by Dassault company and Reliance company regading any connection between them prior to Rafale deal.
However, new reports do not point in the same direction. Regulatory filings in France and India show that Dassault had made an investment in 2017 in one of Anil Ambani’s venture which was running into losses. And this investment was of a large amount, i.e., 4 million euros. This Anil Ambani’s company is namely Reliance Airport Developers Limited (RADL). The investment made in RADL earned this Reliance company a profit of Rs 284 crore in the year 2017-18.
Ambani’s this company didn’t earned anything in 2016. Instead, it was facing Rs 9 lakh loss. In 2017, this company had earned only Rs 6 lakh but had Rs 10.35 lakh loss. The same company earns Rs 284.19 crore in 2017-18. Dassault company was a major reason that this company earned profits.
Now, the question arises as to why did Dassault did deal with this ‘bankrupt’ company? CEO of Dassault Éric Trappier said in CNBC’s interview that they did Rafale deal with Reliance because it had land.
Who was behind acquisition of ‘this land’ by Reliance due to which it got Rafale deal? How did Reliance got this expensive land close to the airport?
Reliance company applies for this ‘Nagpur land’ in July 2015. With the help of Modi government Reliance acquires this land in August 2015. Dassault company then invests crores of money in this company on the basis of this land in 2017.
This profit of Ambani’s company is similar to the pattern of expose about profits earned by Jay Shah’s company. Then also a company suddenly earns 16,000 times profit within 1 year.
Ambani’s company has also suddenly earns huge profits in the year 2017-18. The Wire’s report gives a detailed account of all the facts related to this case. It even highlights that Dassault had bought shares of Ambani’s bankrupt company, and only after that it earns profits.
The huge profits being made by industrialists and businessmen has become new ‘fashion’ today’s India. They even get their loans waived off easily. It seems as if only rich are getting richer, and are having their “Achhe din”!