What is the cheapest thing you've seen a mega-rich person do? by Arpit Sihra
Answer by Arpit Sihra:
Sachin Tendulkar’s gifted Ferrari – Tax evasion and sale
Fiat once gifted a Ferrari to Sachin Tendulkar which was presented to him by Michael Schumacher. The import duty on that car amounting to Rs. 1.13 Crores (About $170,000) was supposed to be paid by Sachin but it was exempted by the govt upon Sachin’s request.
The Delhi high court issued a notice to Sachin and The Ministry of Finance and Ministry of Sports. When the drama became uglier Fiat India stepped in and paid the import duty.
But that was not all. After trying to not pay the duty for so long and after the drama around it for a long time, he sold it to a Surat based businessman.
Jayesh Desai – Surat based businessman who bought Sachin’s Ferrari
He was presented the car by one of the greatest sport figures in the world after he had equalled Sir Don Bradman’s 29 centuries. Such a great gesture, but first the tax evasion and then selling the car. Not what anyone would’ve expected from the little master 😦
PS: I’d like to mention that I’m not against Sachin in any way. In fact I think I’m one of his biggest fans ever and to be honest I’ve stopped enjoying cricket after he’s retired. But to be honest as a true fan this remains my biggest disappointment from him and just don’t get it how a gentleman like him could do this. 😦