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Taxing times for Everonn: Shareholder under I-T scanner
It continues to be a steep learning curve for Everonn Education. After the company's managing director was arrested in bribery and tax evasion case, its largest shareholder also is under the taxman's scanner, reports CNBC-TV18’s Mitra Joshi and Kritika Saxena.
It continues to be a steep learning curve for Everonn Education . After the company's managing director was arrested in bribery and tax evasion case, its largest shareholder also is under the taxman's scanner, reports CNBC-TV18's Mitra Joshi and Kritika Saxena.
The company's largest shareholder Nikhil Gandhi's SKIL Infrastructure, which has a 21% stake in Everonn, is being raided by the tax department.
Gandhi was being touted as the company's next chairman after Everonn's former chairman JJ Irani stepped down following the managing director PK Kishore's arrest in a bribery and tax evasion case.
Irani said, "The company was doing reasonably well. I would have never guessed what the entrepreneur did. As soon as I knew about it, I resigned."
Irani though was tight lipped about the raids at Nikhil Gandhi's offices. "I would not like to comment on that," he added.
Recently, Dubai-based Varkey Group bought 12% stake in Everonn Education even after the controversial turn of events. Few months back, Everonn's subsidiary also inked a deal with National Skill Corporation Development (NSDC) that is expected to fetch estimated revenue of Rs 14,000 crore to the company.
CNBC-TV18 tried to get in touch with NSDC to know whether this deal will get cancelled with the recent turn of events, but the officials declined to comment.
