Several Indians have been listed in the Paradise Papers database. A list of Indian company owners whose identities have been confirmed and addresses verified:
ANKITKUMAR PRAMUKHBHAI PATEL
MOHAMMED IQUBAL KHAN
Gurdamakhurd, District Saran, Bihar
Ankit Patel is the son of BJP leader Bhavnaben P Patel, the councillor of Ghatlodia ward of Ahmedabad Municipal Corporation. Bhavnaben lives in Abhinandan Cooperative Housing Society in Ghatlodia.
Iqubal was not available at his home in Bihar’s Saran, but spoke over the phone subsequently. He said he does farming and small jobs for a living.
Malta registry data show Patel and Khan as Directors, legal representatives and judicial representatives of a Malta company whose registration number is available, but whose name is not. Khan is also recorded as a shareholder of the Malta company.
RESPONSE: Asked about Ankit, Bhavnaben said: “He stays abroad.”Informed about the company that her son owned in Malta, she said, “That company was closed many years ago. He has not been to Malta since 2006. Earlier. he went on a tourist visa for seven days, and then on a student visa.” Bhavnaben declined to provide any more details about the company, or Ankit.
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Iqubal Khan said he had gone to Malta in January 2002 as a “worker” at an offshore company called “Mechanical Limited”, returned to his village in early 2007, and had not gone back. A fellow villager accompanied him, he said, and “at least 35 (other) people” had gone to work as welders, fitters and technicians. He said he had got a contract from a government hospital to provide technicians from India for the construction of its new building. However, he had not incorporated the company, and he had no idea whether those who had done so had sought the RBI’s permission and filed I-T returns, he said. “From whatever little I know, one cannot open an offshore company without mentioning his I-T returns and later declaring his association with the company in his subsequent I-T returns. One also needs a local resident to start an offshore company,” Khan said. He repeatedly denied any direct association with the offshore company, which he said was still in existence.— AVINASH NAIR, Ahmedabad and SANTOSH SINGH, Chhapra
FAHIM AZIR MANIAR
Aim Retail Holdings Limited was set up in Ireland in 2011 and operated as an “overseas company” (OC) through a branch in Malta. As per Maltese laws, all fiscal benefits granted to companies incorporated or resident in Malta are also extended to Maltese branches of foreign companies.
According to the Maltese registry, Fahim Azir Maniar, an Indian resident identified by his passport number and a central Mumbai address, was appointed director of Aim Retail Holdings Limited on October 23, 2013. According to registry data, Maniar also became the legal and judicial representative of the company.
Earlier, in January 2013, corporate service provider Exco had informed the Malta Financial Services Authority about withdrawal of services to Aim Retail Holding Ltd. In February 2013, Sam Anthony, an Indian passport holder living in Dublin, Ireland, was appointed director in the company.
RESPONSE: Over the phone, Fahim Maniar said he ran a balloon business, and had set up no offshore entity in Malta. Subsequently, Fahim Maniar’s younger brother, Naeem Maniar, a citizen of Ireland, established contact by email, and gave a detailed response to questions asked by The Indian Express. Naeem Maniar said he had moved to Ireland in 1984, when he was 15 years old.
“Fahim Maniar of Doodhwala Complex is my elder brother, and is one of the three Directors of my Malta registered entity (the other two Directors are both Maltese citizens, and residents of Malta),” Naeem Maniar said in his email.
“Fahim Maniar is on the board representing my interest, and has been a Director of my Malta entity since 2010…
“I can also confirm to you, I am the 100% beneficial owner of the Malta entity. Malta entity represents my business interest in Ireland, and is tax registered in Ireland and Malta with the respective authorities.
“I can also confirm to you, Malta entity, has no connections with India, has never carried on any trade in India, or with any Indian citizen or Indians national and as such has no requirement, legislative or otherwise to register its interest in India.”— RASHMI RAJPUT, Mumbai
SHASHI KAANT BHATNAGAR & SHALINI VIJAY SHRIVASTAV
Shashi Kaant Bhatnagar is a Director of Mumbai-based Inmetta Production Private Limited, Inmetta India Investment Services LLP and Bellpepper Animation Pvt Ltd. His wife Shalini is on the board of Inmetta India Investment Services LLP.
Shashi Kaant Bhatnagar’s name figures in the Malta registry as a Director of Inmetta Limited, a limited liability company (LLP) set up in July 2015. It was incorporated with a nominal share holding of Euro 1,200. In December 2015, the company requested an 18-month extension for filing accounts.
RESPONSE: Shashi Kaant Bhatnagar said: “Inmetta Ltd was incorporated in Malta by me through ownership of shares by Inmetta India Investment Services LLP, a firm in partnership of me and my wife incorporated in Mumbai. This Malta company is not an “offshore company” if we strictly go by use of legal terminology. This is a EU holding company. This is an inoperative company and we have not filed returns of the company in Malta also as the purpose of setting up stands defeated so far. The purpose was to raise investments from an investor group based out of Malta. It is only last month, having realised this investor interest may not work out, I have started to explore closing it now. We had an investment commitment from an investor group in June 2015 who requested us to form a holding company in Malta, which would eventually be holding subsidiaries in India, Spain and US. The company did not start operations and does not even have a bank account at present. It is in an inoperative status under governance by our company secretary Mr Dion Borg in Malta. We did not capitalise the company also. This is the reason for not declaring to any authorities; however, due to reasons of this company only we delayed filing returns of Inmetta India Investment Services LLP as if investments likely to happen would have happened, we needed to declare this in our returns. We don’t need authorisation to open a company overseas from RBI. But we need authorisation to capitalise a company before starting its operation or own shares in any overseas company with our capital transferred from India.”— EXPRESS NEWS SERVICE, Mumbai
AVANEESH KEMMANU SHIVANANDA & RAVI PRATAP SINGH RAGHAV
The Malta registry data show that Avaneesh Kemmanu Shivananda and Ravi Pratap Singh Raghav, both residents of Bengaluru, are together associated with two offshore companies located in Malta, while Raghav has also incorporated a third.
They hold key positions in a company named Angel Crest Holdings Ltd. They have a total of 26,25,000 shares in the company, and were active in the company until 2015. A resolution was moved to wind up the company in January 2016.
Both Shivananda and Raghav also have 26,25,000 shares each in a second company, Game Village Ltd, an online bingo company registered in Malta. These shares were transferred to them in November 2013. The data show that Shivananda has given his parents’ residence in Bengaluru for the registration details. In August 2015, the company changed its name to Deuce Gaming.
The third company in Malta is named New Fangled Technologies, with Ravi Pratap Singh Raghav as its sole Director. As a cross holding, Angel Crest Holdings Ltd has also been made a shareholder in this company and in January 2016, a resolution was passed to wind up the company.
Avaneesh Kemmanu Shivananda, 37, an MBA from the University of Wales, is a UK-based entrepreneur in the gaming and content areas. He is the founder and CEO of Realbridge e-Marketing Solutions Pvt Ltd in Bengaluru, according to his UK LinkedIn profile.
Ravi Pratap Singh Raghav is the UK-based Director of Kleenco On-demand Services Private Limited, located in Koramangala, Bengaluru. Kleenco’s address is the same as that of Realbridge, the company of which Raghav is the CFO. Raghav is also a founder of RASR Entertainment, AVRA Media, and co-founder of LaundroKart.com.
RESPONSE: When contacted by phone at his Bengaluru office, Ravi Pratap Singh Raghav declined to comment on the nature of the Malta business. “I cannot discuss these business aspects. I cannot comment on what is declared in my tax returns,” he said.— JOHNSON T A, Bengaluru