11th Apr 2016 06:03
LONDON (Alliance News) - De La Rue PLC made secret payments and lavished huge commissions on a middle-man to secure lucrative contracts in India, The Sunday Times reported, citing to documents uncovered in the Panama papers data leak.
The banknote printer sought to distance itself from the revelations of its eight-year relationship with a Panamanian company called Aphra Consultants, whose beneficial owner was Somendra Khosla, an Indian businessman, the report said.
"This arrangement would never be acceptable today," De La Rue told the Sunday Times. "This was a long time ago, and those mentioned no longer work with the company."
http://www.thesundaytimes.co.uk/sto/business/Finance/article1686350.ece
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
De La Rue