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The tax demand is significant for Aviva's India business, which recorded a profit after tax of only $10 million in the 2023-24 financial year
Indian tax officials have asked Aviva why it should not be penalised for the scheme in the period 2017 to 2023, which a confidential company document shows began in 2013
Aviva's India business paid about $26 million to entities who purportedly provided marketing and training services, but they did not perform any work
To rescue lenders burdened with the record bad loans will boost their prospects
