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Saturday, May 21, 2022

Panama Papers - The Aftermath


After Panama Papers, offshore firm saw 30-fold rise in authorised capital

June 23, 2018 12:18 pm

One month after the Panama Papers revelations, Mardi Gras Holdings was placed on a list of 69 entities — mostly set up by Indian clients — that was sent on May 3, 2016, by BVI’s Financial Investigation Agency (FIA) to Mossack Fonseca for detailed information.

Panama Papers-The Aftermath: Gita Piramal is owner of 34-yr-old Panama firm

June 23, 2018 2:21 am

When contacted by The Indian Express, Piramal said she had declared her ownership of Notarial to regulatory and tax authorities in India and the UK. “My father, a UK citizen, incorporated the company for a residential flat which I inherited after his death,” she said.

'We Resign': That's what Mossack Fonseca told these Indian clients after Panama Papers leak

June 23, 2018 12:08 am

Email exchanges reveal that Mossack Fonseca did not have several crucial documents needed to complete due diligence requirements to set up offshore firms for these clients

Panama Papers: Firms tied to Indians dominate inquiry lists of British Virgin Islands, Bahamas

June 22, 2018 9:25 am

Panama Papers: This is evident from Panamanian law firm Mossack Fonseca’s response to authorities in the BVI and the Bahamas who sought information on client companies soon after the Panama Papers revelations in April 2016.

Panama Papers: Have begun verifying new data, says CBDT chief Sushil Chandra

June 22, 2018 9:21 am

Panama Papers: CBDT Chief Sushil Chandra said, “We have taken invasive action in 62 cases connected to Panama Papers and have found that large deposits had been made in foreign bank accounts which had not been declared in tax returns or surrendered during the amnesty scheme."

Panama Papers: New data shows ex-Delhi politician was introduced to Mossack by Swiss bank

June 22, 2018 1:56 am

Panama Papers: On January 9, this year, the Swiss Federal Tax Authority issued a gazette notification asking Kejriwal for a disclosure on the Swiss bank accounts he may have opened – and giving him 10 days to appoint a representative.

Panama Papers: Despite global leak, this Indian client didn’t want Mossack Fonseca to quit

June 22, 2018 1:42 am

Panama Papers: On December 1, 2016, six months after the Panama Papers leak, Moonglow was sent a notice by Mossack Fonseca, asking for details of property holdings and bank accounts. On February 2, 2017, the law firm sent its “notice to resign.”

Panama Papers: Month after expose, Prithvi Raj Singh Oberoi quit Bahamas company

June 22, 2018 1:26 am

Panama Papers: In an email to Mossack Fonseca (Bahamas), new records show, Madhok wrote: “...attached are letters of resignation as directors of J&W Inc. of Mr P R S Oberoi and myself. Please arrange for this to be processed as soon as possible.”

Panama Papers: After red flag, law firm moved to resign from companies tied to arms agent’s son

June 22, 2018 12:57 am

Panama Papers: In an internal communication, the compliance officer linked the The Indian Express report to two of these entities set up in 2002 in the British Virgin Islands (BVI) — Anterna Ltd and Belinea Services Ltd — of which Bhanu was a director. Belinea was initially called Noversa Ltd.

Panama Papers: Offshore firms linked to DLF family got reminders — Send due diligence

June 22, 2018 8:10 am

Panama Papers: In February 2017, Mossack Fonseca confirmed K P Singh, son Rajiv Singh, daughter Pia Singh and their immediate family as beneficial owners of the three companies, and also conveyed its intent to resign as their registered agent for not fulfilling BVI laws and due diligence requirements.