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Swiss accounts of 'Chandamama' owners under lens
Highlights
Swiss Bank accounts of Mumbai-based software services firm Geodesic Ltd, new owners of decades-old children's magazine Chandamama, is to come under scrutiny of Indian investigating authorities in an ongoing money laundering and financial irregularities case.
New Delhi: Swiss Bank accounts of Mumbai-based software services firm Geodesic Ltd, new owners of decades-old children's magazine Chandamama, is to come under scrutiny of Indian investigating authorities in an ongoing money laundering and financial irregularities case.
The development comes after Switzerland has agreed to provide "administrative assistance" of these accounts to Indian authorities, including Enforcement Directorate (ED) and Income Tax.
Geodesic is mainly known for acquiring 'Chandamama', the popular children's magazine started in July 1947. In 2007, Geodesic acquired the iconic 'Chandamama' magazine which enthralled children with Indian mythological stories.
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