Panama Papers Highlights: Here’s all you need to know about the latest investigationhttps://indianexpress.com/article/india/panama-papers-aftermath-live-updates-ajay-bijli-pvr-kavin-bharti-mittal-hike-messenger-jalaj-ashwin-dani-asian-paints-5226566/

Panama Papers Highlights: Here’s all you need to know about the latest investigation

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.

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Panama Papers List LIVE Updates: In the new set of over 1.2 million documents, at least 12,000 of them are linked to Indians.

Panama Papers: The Aftermath‘ is a fresh investigation by The Indian Express, in collaboration with the International Consortium of Investigative Journalists and German newspaper Suddeutsche Zeitung, of Indian individuals and entities who park and move their money in and out of safe havens. The new set of papers reveals how Panamanian law firm Mossack Fonseca, which serviced their accounts, scrambled to respond to an unprecedented global crackdown. In the new set of over 1.2 million documents, at least 12,000 of them are linked to Indians.

Also read | Among new names, telecom czar’s son, a business couple

This second lot of the Panama Papers also highlights details of offshore companies incorporated by a clutch of Indian businessmen who did not figure in the 2016 leak. These include Ajay Bijli, owner of PVR cinemas, and members of his family; Kavin Bharti Mittal, CEO of Hike Messenger and son of Sunil Mittal; and, Jalaj Ashwin Dani, son of Asian Paints promoter Ashwin Dani.

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The Indian Express investigates 12,000 new records which reveal new names and confirm client trains. Click for full coverage of Panama Papers. Read this story in Malayalam.

How did Mossack Fonseca - and those exposed by the investigation - respond to the #PanamaPapers?

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Here's something you didn't know about Lionel Messi


Lionel Messi, the Barcelona star who is now leading Argentina in the Russia World Cup, has been named in the fresh Panama Paper leak. He was already under investigation in Spain on charges that he and his father, Jorge Horacio Messi, used offshore companies in Belize and Uruguay to avoid paying millions of dollars in taxes when the Panama Papers revealed he owned yet another offshore company: Mega Star Enterprises, based in Panama. When asked about the company in April 2016, the Messis told ICIJ and partners that Mega Star was “totally inactive.” Internal emails from the newly-leaked Mossack Fonseca records call that claim into question.

Day after query on offshore ownership, Shishir Bajoria moved to get his name removed from records


Kolkata businessman Shishir K Bajoria, promoter of SK Bajoria Group with an annual turnover of $200 million, rushed to update Mossack Fonseca’s records two days after The Indian Express contacted him with queries on his beneficial ownership of an offshore firm in the British Virgin Islands (BVI) during the Panama Papers investigation.

The latest leak of documents shows that on March 23, 2016, First Names Group, an Isle of Man entity which set up Haptic (BVI) Ltd along with Mossack Fonseca, contacted the Panamanian law firm to update “beneficial ownership information… as soon as possible” from Shishir Kumar Bajoria to Charles Gary Hepburn.

Impact of 2016 expose


No of global inquiries: 150

Clients under probe in India: 426

No of searches, seizures in India: 58

Prosecutions filed in Indian courts: 16

Undisclosed income detected in India: Rs 1088cr

The new 1.2 million files from the #PanamaPapers reveal the back-and-forth correspondence between Mossack Fonseca and various intermediaries

VIDEO: What did the 2016 Panama Papers reveal?

Among new names, telecom czar’s son, a business couple

Three weeks before the Panama Papers were published in April 2016, internal email exchanges in Panamanian law firm Mossack Fonseca revealed names of UBOs (ultimate beneficial owners) of some previously registered companies, new records show.

Among them is KBM Global Limited, a company registered in the British Virgin Islands (BVI) by Mossack Fonseca in December 2008. Email exchanges between March 16 and March 17, 2016, show that the BO (beneficial owner) of the company is Kavin Bharti Mittal, founder and CEO of Hike Messenger and son of telecom czar Sunil Bharti Mittal. His Amrita Shergill Marg, New Delhi address is mentioned in the email exchanges where the name of the BO has been inserted.

Click here for full report.

New data spills more offshore secrets of Lionel Messi, Argentina President Mauricio Macri

Two years after the Panama Papers rocked the offshore financial system, a fresh document leak from the law firm Mossack Fonseca reveals new offshore details about an array of global elites, including soccer superstar Lionel Messi and the Argentine president’s family.

Read full report here.

Soon after Panama Papers leak, Iqbal Mirchi’s family rejigged offshore holdings

The latest tranche of Panama Papers has unearthed new details of offshore holdings by the family of Iqbal Mirchi, who was once wanted by Mumbai Police and died in London five years ago. These documents reveal more details about Country Property Ltd, a British Virgin Islands (BVI) entity which was investigated by The Indian Express during the 2016 data leak linked to Panamanian law firm Mossack Fonseca. Country was incorporated in 2010 by Iqbal Mirchi’s wife, Hajra Iqbal Memon, and their two sons, Junaid Iqbal Memon and Asif Iqbal Memon.

Read more here.

Second largest firm in Paradise Papers data surfaces in new cache from Panama

New records investigated by The Indian Express show that the Khemka family, which had set up over hundred offshore entities incorporated by Bahamas law firm Appleby in the Paradise Papers revelations had similar ties to Panama law firm Mossack Fonseca.

Read more here.

Day after query on offshore ownership, Shishir Bajoria moved to get his name removed from records

Kolkata businessman Shishir K Bajoria, promoter of SK Bajoria Group with an annual turnover of $200 million, rushed to update Mossack Fonseca’s records two days after The Indian Express contacted him with queries on his beneficial ownership of an offshore firm in the British Virgin Islands (BVI) during the Panama Papers investigation.

Read more here.

Inside the fall of Mossack Fonseca – panic, chaos, and the end

In the weeks and months that following the Panama Papers leak, Mossack Fonseca employees frantically emailed bankers, accountants and lawyers – the professionals who had hired the firm to set up shell companies for wealthy clients who wanted to remain anonymous – in an attempt to close the gaps in its recordkeeping. Those intermediaries responded with panic and fury.

Read more here.

Mossack Fonseca managed three offshore firms for PVR’s Bijlis

Around the time the Panama Papers uncovered the secret world of Mossack Fonseca, offshore companies linked to the Bijli family of PVR Cinema fame continued to do business with the Panamanian law firm. 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.

Read more here.

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The fresh investigation of Indian individuals and entities reveals how Mossack Fonseca, which serviced their accounts, scrambled to respond to an unprecedented global crackdown.

Two years after the Panama Papers blew the lid off how the global elite, including over 500 Indians, park and move their money in and out of secret tax havens, the Panama Papers are back — to reveal telling new details. More than 1.2 million fresh documents, at least 12,000 of them linked to Indians, have been investigated by The Indian Express, in collaboration with the International Consortium of Investigative Journalists and German newspaper Suddeutsche Zeitung. Just as was done with the earlier set of over 11.5 million documents in 2016.

The fresh investigation — Panama Papers - The Aftermath — of Indian individuals and entities reveals how Mossack Fonseca, which serviced their accounts, scrambled to respond to an unprecedented global crackdown. Significantly, it also confirms the existence of several customers who had hitherto denied any links. And lifts the veil on the financial trail of new clients.

This second lot of the Panama Papers highlights details of offshore companies incorporated by a clutch of Indian businessmen who did not figure in the 2016 leak. These include Ajay Bijli, owner of PVR cinemas, and members of his family; Kavin Bharti Mittal, CEO of Hike Messenger and son of Sunil Mittal; and, Jalaj Ashwin Dani, son of Asian Paints promoter Ashwin Dani.