Another Chinese company under lens: I-T raids on MG Motor
A team of officials from the Income Tax Department reached the office of MG Motor India in Gurugram and conducted a search operation. The firm has Chinese connections.
The I-T Department sources said that they recovered a few incriminating documents during the search operation.
MG Motor, a British brand, was acquired by Shanghai Automotive Industry Corporation (SAIC Motor Corp). The brand launched its first car in India in 2019.
The firm has four models — Hector, Astor, Gloster, and ZS EV, which they sell in India. The firm has set up the manufacturing plant at Gujrat’s Halol. However, its proposal to bring more capital into India to scale operations are pending approval from the authority concerned.
[With Inputs from IANS]
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Logic. A view point
Could someone be arrested and proceeded against for not doing anything to retaliate against Chinese invasion at the border!
Could Swamy follow up!