Exclusive-UK's Aviva conspired to dodge India compensation and tax rules, agency says

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Exclusive-UK's Aviva conspired to dodge India compensation and tax rules, agency says - Channel News Asia

Quick Summary:

NEW DELHI : An Indian tax agency has found that British insurer Aviva breached local regulations capping commissions to sales agents with a system of fake invoices and clandestine cash payments, according to a notice seen by Reuters.

Aviva "suggested that as per company policy, agent mentor is required for disbursement of additional commission," the notice said, citing Bymat's testimony.

The email showed one Aviva executive seeking approval for ORC payments, with a table listing numbers for business generated, commission already paid, and pending ORC.