RAFALE SCAM

Dassault buys shares in a obscure non functional Reliance Infra entity named "Reliance Airport Developers Limited" (RADL). Dassault Aviation’s annual report of 2017 shows that it made an investment of nearly Euro 40 million in RADL.

Reliance Airport Developers posted losses of ₹10.35 lakh for the financial year ending March 2017 and earned revenues of only ₹6 lakh.

This stake purchase was despite the fact that Dassault group DOES NOT have any Airport development/Operation presence anywhere in the world.

Public filings by Reliance Infrastructure, a Reliance ADAG group company, show that it sold a 34.7% stake in RADL, a wholly owned subsidiary, to Dassault Aviation in FY 2017-18. The stake sale resulted in a profit of ₹284 Cr for RADL.

News reports dating to early 2016 had already reported major stake/assets sale by RInfra in order to reduce the mountain of debt. Reports were in addition to sale of assets like Reliance Telecom, Reliance Power etc, 30% stake sale of RADL is being done.

The Anil Ambani-promoted company had invested Rs 100 crore in five airport projects in Maharashtra through its subsidiary Reliance Airport Developers.

As per Reliance Infra website:

RInfra with its subsidiary company, Reliance Airport Developers Private Limited (RADPL) operates five brownfield airports in Maharashtra, viz. Nanded, Latur, Baramati, Yavatmal and Osmanabad and also monitors the progress of all upcoming airport projects in India. The Maharashtra Industrial Development Corporation (MIDC) in 2009 had awarded RADPL lease rights for 95 years to develop and operate these five airports.

Though Anil Ambani's RInfra insists that land at MIHAN was purchased in phases between August 2016 to July 2017, it will not be surprising that Dassault actually paid Reliance to buy the land in MIHAN via buying stake in RADL.

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