Qatar firm funded FIITJEE via Mauritius: Paradise Papers

The Paradise Papers leak has revealed that Qatari investment firm Qinvest sold coaching giant FIITJEE's shares to Mumbai's The Ambit Group through a Mauritius-based subsidiary. The Ambit Group is an investee of Qinvest, effectively making the ₹36-crore transaction between Qinvest's own two companies. Acknowledging the deal, The Ambit Group said it complied with FEMA and RBI-prescribed norms.