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.
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.
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: 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: 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.
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: 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: 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: 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.