City businessman, Sudhir Ruparelia has denied reports claiming that his businesses are being investigated over tax evasion.
His response follows reports that his Meera Investments Limited is being investigated over financial irregularities, including tax evasion.
According to the Red Pepper, the investigation was launched following the takeover of Crane Bank by Bank of Uganda.
It’s said that operations of Crane Bank had been fused in the operations of Meera Investment. This has prompted authorities to investigate whether Meera Investments Limited, a company under Ruparelia Group has been evading paying its taxes.
Speaking to EagleOnline said he wasn’t aware of any investigations and said if there is any, he gladly welcomes the investigations because he has never evaded taxes.
“I am surprised at allegations that one of my business ventures is reportedly being ‘investigated’ but how would my businesses have grown to this magnitude without tax officials discovering that I don’t pay tax. I don’t want to engage in speculation and I don’t know where this is coming from” Sudhir said.
His response comes after Red Pepper said a team of operatives has been dispatched to China and Far East to establish the tycoon’s investments there.