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India, Mauritius
Piramal family makes good use of new tax favours

Indian billionaire Ajay Piramal, head of Piramal Group.
Indian billionaire Ajay Piramal, head of Piramal Group. © Reuters/Danish Siddiqui
The Indian government's decision last month to reduce taxes for companies based in Mauritius is to be accompanied by lower transparency requirements. The venture capital firm IndiaRF, a JV between the family-run Piramal and Bain Capital, immediately took advantage of the move. [...]
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