Goldfarbs property taxes are rising, but the company says it will help the poorest.
The new tax rate of 15% is the highest ever imposed by the state government.
It will affect most of the 400 properties that the company owns in Maharashtra, Uttar Pradesh and Madhya Pradesh.
It’s not the first time the company has raised the property tax rate, with the government increasing the rate to 15% in 2016, and 18% in 2017.
Goldfarbs has been in the spotlight for its handling of the massive fire at its Golden Triangle coal mine in Maharashtra.
The company has been accused of misleading the government and misleading regulators.
It has also been accused by a group of independent investigators of illegally collecting funds.
Goldfarba is also facing investigations for allegedly overcharging residents for water, power and sewage treatment.
Goldfarrs chief executive Nirmal Shah is facing scrutiny for allegedly using the company’s influence over the government to help the state’s coal mining industry.
Goldfin said that the rise in the property taxes is not linked to any specific decision.
However, it did say that the state has taken “extraordinary measures” to curb the impact of the property market on the poor.
“The government is making every effort to ensure that the burden of property taxes does not fall on the poorest of the poor and that the property is allocated for the benefit of the entire community,” the company said in a statement.
“We are also confident that the rate of the new tax will be fair and equitable and will not be used to discriminate against any particular section of the community.”