Panama Papers: At least 16 Indians face prosecution, cases were filed after foreign jurisdiction sent information on holdings, asset.
The court delivered the verdict after postponing it four times in the Avenfield corruption case – pertaining to the ownership of four flats in the posh Avenfield House in London.
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: 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: 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.
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: Both the original Panama Papers and the newly leaked documents reveal shell companies created by Mossack Fonseca that were used not only for legitimate purposes but also to conceal illicit proceeds from drug trafficking, help pariah nations skirt US sanctions and hide corruption and bribery by politicians around the world.
Panama Papers Highlights: The new set of papers reveals how Panamanian law firm Mossack Fonseca, which serviced their accounts, scrambled to respond to an unprecedented global crackdown.
Panama Papers: A pioneer in multiplex cinemas in India, Ajay Bijli, along with wife Selena and son Aamer, beneficially owned an offshore company set up to hold a property in the UK.
Panama Papers: A company official, replying on behalf of Kavin Bharti Mittal, said: “KBM Global Limited is a Company set up by Kavin Bharti Mittal in the year 2008 for pursuing business activities and making investments in the tech sector. Kavin Bharti Mittal is the sole beneficial shareholder of KBM Global Limited.
Panama Papers: Kolkata businessman and BJP leader Shishir K Bajoria claimed that reference to him in offshore entity’s books was an error.