[caption id="attachment_2737976" align="alignnone" width="759"] From film stars Amitabh Bachchan and Aishwarya Rai Bachchan to corporates including DLF owner K P Singh and nine members of his family, and the promoters of Apollo Tyres and Indiabulls to Gautam Adani’s elder brother Vinod Adani.[/caption] Two years after the Panama Papers blew the lid off how the rich and powerful park and move their money in and out of secret tax havens, a fresh document leak from the Panamanian law firm Mossack Fonseca reveals new offshore links of an array of global elites. More than 11 million documents from the secret files of Mossack Fonseca, a law firm headquartered in tax haven Panama, known for its factory-like production of offshore companies for its worldwide clientele of the well-heeled revealed a list of individuals who have paid the firm — and bought the benefits of the secretive, lax regulatory system in which it operates — to set up offshore entities in tax havens around the world. And Mossack Fonseca’s eagerness to meet their demands, each one for a fee, that helps mask real ownership but still show compliance. Video| A Peek Into India Express' 8 Month Long Investigation [youtube https://www.youtube.com/watch?v=OsLC438tLU4] Over 500 Indians figure on the firm’s list of offshore companies, foundations and trusts. There are also 234 Indian passports (handed over by clients as part of the incorporation process), an eight-month-long investigation of over 36,000 files by The Indian Express has revealed. Of these, The Indian Express has checked the authenticity of over 300 addresses.
[caption id="attachment_2738030" align="alignnone" width="759"] Mossack Fonseca helped Indians float offshore companies. (Source: mossfon.com)[/caption] What do The Panama Papers reveal? Individuals who have set up offshore entities through the Panama law firm. Some of the Indians floated offshore entities at a time when laws did not allow them to do so; some have taken a technically convenient view that companies acquired is not the same as companies incorporated; some have bunched their annual quota of remittances to subscribe to shares in an offshore entity acquired at an earlier date. [youtube=https://www.youtube.com/watch?v=7C52rG83LYc&h=427] Still, some others have received income earned abroad and deposited it in the entity to avoid tax. Some have opened a bank account to keep payoffs in government contracts, or held “proceeds of crime” or property bought with money made illegally in Trusts/ Foundations. READ: Panama Papers explained
Panama Papers: A Peek Into India Express' 8 Month Long Investigation The Indian Express investigation team, led by Executive Editor Ritu Sarin, has meticulously crossed the ts and dotted the is for eight months before revealing the list of Indian names that featured in the #PanamaPapers. The biggest till date, the Panama Papers has seen the leak of over 11 million documents of the law firm, which features over 500 Indians linked to offshore firms. WATCH VIDEO [youtube=https://www.youtube.com/watch?v=OsLC438tLU4&h=400]
Tracking Panama cash trail: What India Wanted, What It Got — And Didn’t India sent notices to authorities in tax havens, including the BVI and the Bahamas, seeking details of beneficial ownership and finances of a number of offshore companies managed by Mossack Fonseca. They include Kansu Corporation, Claire Consultants, Zerpin Holdings, Bragmar Equities and STI United Corporation. Records show how requests hit a roadblock READ STORY
[caption id="attachment_2743037" align="alignnone" width="840"] Aishwarya Rai, and her family were part of a company incorporated in the British Virgin Islands, a tax haven.[/caption] ‘Shorten name from Aishwarya Rai to A Rai for confidentiality’ Records maintained by Mossack Fonseca (MF), the Panamanian firm that helps set up offshore entities, reveal that for at least three years, one of India’s most famous faces, Aishwarya Rai, and her family were part of a company incorporated in the British Virgin Islands, a tax haven. The Indian Express accessed MF documents which show that Rai, her father Kotedadi Ramana Rai Krishna Rai, mother Vrinda Krishna Raj Rai and brother Aditya Rai were appointed on May 14, 2005, as directors of Amic Partners Limited — with an initial authorised capital of $50,000. The Indian Express investigation team, led by Executive Editor Ritu Sarin, has meticulously crossed the ts and dotted the is for eight months before revealing the list of Indian names that featured in the #PanamaPapers. READ STORY: From director to shareholder
[caption id="attachment_2743038" align="alignnone" width="840"] Amitabh Bachchan and family did not respond to repeated emails sent to them and phone calls made to their mobile numbers, Mumbai residences and the AB Corporation office for over a week.[/caption] 4 shipping firms in tax havens, one link — Amitabh Bachchan Two years before he launched Amitabh Bachchan Corporation Limited (ABCL) in 1995, the Bollywood legend was appointed director in at least four offshore shipping companies. Records of international law firm Mossack Fonseca, reviewed by The Indian Express, and subsequent inquiries show that the four companies, in which Bachchan was appointed director, were registered in tax havens — one in the British Virgin Islands and three in the Bahamas in November 1993. The Indian Express investigation team, led by Executive Editor Ritu Sarin, has meticulously crossed the ts and dotted the is for eight months before revealing the list of Indian names that featured in the #PanamaPapers. READ STORY
$10 mn as capital: 10 members of KP Singh’s DLF family, three BVI firms Kushal Pal Singh, promoter of India’s largest real estate group DLF, acquired a company in British Virgin Islands, a tax haven, in which his wife Indira KP Singh is a co-shareholder, according to documents of Mossack Fonseca (MF), the Panamanian law firm that helps set up offshore entities. Internal files of MF, accessed by The Indian Express, show that the real estate baron has been described as a “politically exposed person (PEP)” by Mossack Fonseca & Co (BVI) Ltd, the registered agent for Singh’s offshore entity called Willder Ltd. The Indian Express investigation team, led by Executive Editor Ritu Sarin, has meticulously crossed the ts and dotted the is for eight months before revealing the list of Indian names that featured in the #PanamaPapers. READ STORY
Karnal to London via Bahamas, The Route Indiabulls Promoter Took Indiabulls, one of the country’s largest realty groups controlled by Sameer Gehlaut, brother Nagendra and father Balwan Singh, made headlines in June 2014 when it acquired a 87444-sq ft property for GBP 155 million at Hanover Square in London. Before Indiabulls Real Estate Ltd entered the UK market, Sameer Gehlaut acquired at least three top London properties through family entities in Karnal, Delhi, Bahamas, Jersey and UK. Currently being developed as residential and hotel projects, these properties are owned by SG Family Trust, set up in October 2012 for the benefit of the family. WATCH VIDEO [youtube=https://www.youtube.com/watch?v=lBYCgJiSy1Y&h=400] The Indian Express investigation team, led by Executive Editor Ritu Sarin, has meticulously crossed the ts and dotted the is for eight months before revealing the list of Indian names that featured in the #PanamaPapers.
Ashwani Kumar Mehra No. of offshore entities: 7 Location: Bahamas and BVI Owner of Mehrasons Jewellers, Ashwani Kumar Mehra’s corporate profile lists his sons, Deepak Mehra and Navin Mehra, as partners in his jewellery empire. Since 1999, the family has registered seven offshore companies in the Bahamas and the British Virgin Islands. Among them, PTC Group Ltd is shown to be either a secretary or shareholder in the other companies. Mossack Fonseca (MF) records show that apart from Mehra, wife Mala Rani and their two sons, two of these offshore entities — Maxhill Holdings Ltd and Stonebay International Ltd — have listed his daughters-in-law, Pooja and Shalini, as directors. Romi Sahai, a director with Minerva Trust, is shown as a director in some of these companies. The Indian Express investigation team, led by Executive Editor Ritu Sarin, has meticulously crossed the ts and dotted the is for eight months before revealing the list of Indian names that featured in the #PanamaPapers. READ STORY
Anurag Kejriwal No. of offshore entities: 3 plus 2 foundations Location: British Virgin Islands (BVI), Panama Anurag Kejriwal was the Delhi president of Lok Satta Party before being expelled following a purported sting operation by a TV channel ahead of the 201 4 Lok Sabha elections. MF records list him as a director in at least three offshore entities in the British Virgin Islands (BVI) and show that he floated at least two private foundations in Panama. He is also shown as holding power of attorney of another BVI company. The Lok Satta was founded in 2006 by Jayaprakash Narayan, a former IAS officer. Kejriwal led the party’s unit in Delhi and was a member of its National Steering Committee but was expelled after the sting operation in April 2014. He lives in Delhi, has business interests in Kolkata. The Indian Express investigation team, led by Executive Editor Ritu Sarin, has meticulously crossed the ts and dotted the is for eight months before revealing the list of Indian names that featured in the #PanamaPapers. READ STORY
Gautam and Karan Thapar Offshore entity: Charlwood Foundation, Nikom International Foundation Location: Panama Gautam and Karan Thapar, sons of Brij Mohan Thapar, took control of Crompton Greaves Limited after the division of the Thapar Group in 1999. Karan ran Crompton Greaves from 2000 as a director while Gautam worked with uncle Lalit Mohan Thapar of Ballarpur Industries Limited (BILT). In 2005, Lalit Mohan handed control of BILT to Gautam. The same year, MF records show, Gautam and Karan set up a private foundation each in Panama. READ STORY
Satish Govind Samtani, Vishlav Bahadur and Harish Mohnani Offshore entities: Design & Quality Ltd and Trileon Limited Location: BVI MF records list Satish, Vishlav and Harish as directors in two offshore companies in the BVI, Design & Quality Ltd, incorporated on December 4, 2008, and Trileon Limited, in November 2007. Records show that Design & Quality Limited was registered in December 2008 and the process for its dissolution began in July 2015. They show, however, that it would be struck off MF registers only on April 30, 2016. Trileon Limited, with Bahadur and Samtani as directors, was struck off the records in 2012. READ STORY
Gautam Seengal Offshore entity: Jeff Morgan Capital Ltd Location: BVI An investment management and IT consultant based in Panchkula, Gautam Seengal introduced himself to MF staff as head of a “leading conglomerate with interests in infrastructure, information technology, hospitality and financial services”. Records show he claimed that he was linked to a $400 million private equity fund. Besides registering two offshore entities in his name, he solicited advice for opening others for his clients. READ STORY
Prabhash Sankhla Offshore entity: Lotus Horizon SA Location: Panama Prabhash Sankhla is a retired Madhya Pradesh government employee who lives alone in Indore after his wife passed away three years ago. MF records list his name, along with address, as a director in Lotus Horizon SA, incorporated in July 2012 in Panama. READ STORY
Vinod Ramchandra Jadhav Offshore entities: A number of firms Location: BVI Vinod Ramchandra Jadhav is the chairman of Pune-based Sava Healthcare, with manufacturing facilities in Ahmednagar and Bangalore. The company is involved in research and development, and manufacture of healthcare products and veterinary products. Read | $10 million as capital: 10 members of KP Singh’s DLF family, three BVI firms MF records show that Jadhav is listed as a director or shareholder in a clutch of offshore firms, mostly set up in the BVI between 2010 to 2015. They include Sava Portfolio Holdings Limited, Easycall Holdings Ltd, STF Portfolio Holding Limited, RIM International Corp and MaplePharm Holdings Inc. Liquidation proceedings have been initiated for at least two of these entities. READ STORY
Ranjeev Dahuja, Kapil Sain Goel Offshore entities: Bealls International Corp Location: BVI Panchkula-based Ranjeev Dahuja and Kapil Sain Goel run Berkeley Automobiles, with dealerships of Hyundai and Tata Motors, in Chandigarh. MF records list both as directors of Bealls International Corp which was set up in the BVI in June 2012. Both have equal shareholding of 5,000 shares each, and their passports and Panchkula addresses are on record. The company, is, however shown to have been wound up in October 2013. READ STORY
Vivek Jain Offshore entities: Sacvinam Global SA, Radiant World Holdings Location: BVI, Hong Kong Vivek Jain, a B.Com graduate, runs an agriculture equipment store in Madhya Pradesh. MF records show that he is a director in Sacvinam Global SA, a company registered in the British Virgin Islands in 2010, and a shareholder in Radiant World Holdings, registered in Hong Kong in 2011. Records show that Jain held 79,000 shares in 2010 of Sacvinam, which has another director named Nahar Pinkesh. Radiant is listed as a shareholder of Sacvinam Global SA and a document dated December 2, 2011 shows that Jain was allotted 8.2 lakh shares of the company. His address in Mandsaur is reflected accurately in MF records. READ STORY
Tracking Panama cash trail: How Mossack Fonseca stonewalled Delhi Long before the leak of 11.5 million documents of Panama law firm Mossack Fonseca (MF), including over 500 Indians linked to offshore entities, India’s Income Tax department has been pursuing individuals and companies that have sought to evade taxes by parking money in tax havens. MF documents show that India has reached out to authorities controlling various tax jurisdictions, such as the British Virgin Islands (BVI), Seychelles and Panama, for financial details and ownership structures of offshore entities. Internal mails of MF also reveal how difficult it is to extract information from these jurisdictions. READ STORY
Dawood-link shadow, Iqbal Mirchi family took offshore route Wanted by Mumbai Police for having allegedly handled finances of underworld don Dawood Ibrahim, Iqbal Mirchi died three years ago but pops up in The Panama Papers. Not only do the papers, an investigation by The Indian Express reveals, confirm what Indian security agencies had in their dossier on him, they go beyond it and expose the network of offshore companies he and his family used to pick up properties. READ STORY
Two months after Adani brother set up firm in Bahamas, a request to change name to Shah Months after the formation of the Adani Group’s flagship company Adani Exports Limited — now Adani Enterprises Limited — in 1993, industrialist Gautam Adani’s elder brother Vinod Shantilal Shah Adani set up a company in the Bahamas in January 1994. Vinod looks after the Adani Group’s overseas operations and his son Pranav is a director of Adani Enterprises Limited. Corporate service provider Mossack Fonseca’s records, accessed by The Indian Express, show that GA International Inc was incorporated in the Bahamas by Vinod S Adani on January 4, 1994. READ STORY
Garware family Offshore entities: Rondor Overseas Ltd, others Location:BVI and Panama MF records show that the Garware family, comprising Ashok Garware, Aditya Garware and Sushma Garware, is associated with a clutch of offshore entities. Ashok Garware is a shareholder in Rondor Overseas Ltd, registered in BVI on May 10, 1996, holding 1,000 shares of $1 each and a capital of $10,000. READ STORY
Shishir K BajoriaOffshore entity: Haptic (BVI) Limited Location: British Virgin Islands (BVI) Shishir K Bajoria belongs to one of the oldest business families in Kolkata trading in jute and tea. He is the promoter of SK Bajoria Group, which has steel refractory units in six countries with an annual turnover of $200 million. Bajoria is listed as a beneficial owner of Haptic (BVI) Limited, which was set up in the BVI on October 26, 2015 by Mossack Fonseca & Co (MF) along with First Names Group (Isle of Man), a corporate services provider. MF records show the entity was formed “to receive assets from sister company and settle new trust” with its activities to be carried out “in Isle of Man/UK”. READ STORY
Onkar Kanwar Offshore entity: J&S Systems Corporation Location: BVI Onkar Kanwar, chairman of Apollo Group, and his family members floated an offshore entity, J&S Systems Corporation, in BVI in 2010 and two trusts in 2014. MF records show that the entity holds a million shares of 0.01 pence each in London Stock Exchange-listed Mercom Oil Sands plc, an apartment in London’s iconic ‘The Tower’, and accounts in Barclays Bank, Singapore, and Cayman National Bank and Trust Company Ltd in Isle of Man. The balance in Cayman on November 30, 2014 was GBP 3,65,478.26, records show. READ STORY
Harish Salve Offshore entities: Crestbright Ltd, Pyebush Group Ltd, Edenval Ltd Location: BVI One of the most sought-after lawyers in the country, Harish Salve has represented celebrity clients in the Supreme Court. He was Solicitor General of India between 1999 and 2002. MF records show that Salve and his family members registered three offshore companies in the BVI — Crestbright Ltd, Pyebush Group Ltd and Edenval Ltd — through the London-based agent Rawi & Co with Vasant Vihar in New Delhi as the India address. READ STORY
Jehangir S Sorabjee Offshore entity: Moonglow Investments Global Ltd Location: BVI Jehangir Soli Sorabjee, son of former attorney general Soli Sorabjee and a honorary consultant physician at Bombay Hospital, is the sole shareholder in Moonglow Investments Global Ltd, an offshore entity incorporated in the British Virgin Islands on November 24, 2010. On the same day, MF records show, he consented to act as a director of the company. READ STORY
Mohan Lal Lohia Offshore entities: Venton Group Ltd, Lohia Charitable Foundation Location: BVI & Panama Well-known industrialist Mohan Lal Lohia is Chairman Emeritus of Indo Rama Synthetics and Chairman of Indo Rama Holdings Ltd. MF documents show that Lohia is the “first director” of Venton Group Ltd, registered in the BVI in 2007 with its objectives listed as “broad” and India address as Greater Kailash in New Delhi. In November 2012, MF was instructed via email to let Venton “die a natural death”. MF records show that Lohia also set up the Lohia Charitable Foundation, an NGO, in Panama in January 2010 with a corpus of $10,000. Apart from Lohia, his grandson Amit Lohia and daughter-in-law Seema Lohia are listed as members of the foundation’s family council. READ STORY
Zavaray Poonawalla Offshore entity: Stallast Ltd Location: BVI Brother of billionaire Dr Cyrus Poonawalla, Zavaray heads the managing committee of the Royal Western India Turf Club (RWITC) and is on the board of four companies that deal with real estate, construction, hospitality and stud farms. MF records list Zavaray, wife Behroze and daughters Simone and Delna, as directors of Stallast Ltd set up in 2013 in the British Virgin Islands. Stallast was struck off the records in 2014. READ STORY
Rajendra PatilOffshore entity: Elgenburg Ltd Location: BVI Rajendra Patil is the son-in-law of veteran Congressman and Karnataka Horticulture Minister Shamanur Shivashankarappa, a businessman and educationist who owns medical and engineering colleges in Davangere. Patil runs a sugar export company and is also involved with energy, aviation, textile, education and Internet firms run by the Shivashankarappa family. According to MF records, Patil and two associates, Sanjay Nadgouda and Shashank Angadi, set up an offshore firm called Elgenburg Ltd in the British Virgin Islands in 2007 with an initial shareholding of 50,000 shares with Patil holding 22,500 of them. READ STORY
Anil Vasudeva SalgaocarNo. of offshore entities: 11 Location: BVI A Goa-based mining baron and former MLA, Anil Vasudeva Salgaocar had set up 11 offshore companies with the help of MF, mostly in the BVI, with a majority of them being incorporated between 2004-2005 with Vasco Da Gama in south Goa as the India address. Salgaocar, 75, died in Singapore in January following illness. READ STORY
Tabasum & Abdul Rashid Mir Offshore entity: Mondale SA Location: Panama MF records show Abdul Rashid Mir, Cottage Industries Exposition (CIE) founder and CEO, floated Mondale SA on September 4, 2002, in Panama with an authorised capital of $10,000, divided into 100 shares. MF provided three directors and a secretary. The bearer shares were issued ten days later — on September 14 — and Mir’s son Mujeeb subscribed “as shareholder to the entire authorised share capital of the company” on October 8. READ STORY
Indira Sivasailam and Mallika Srinivasan Offshore entities: Stanbridge Company Ltd Location: BVI Indira Sivasailam, who died in December 2008, at the age of 73, was the wife of Anantharamakrishnan Sivasailam, chairman of Amalgamations Group. She was survived by her husband and two daughters — Mallika Srinivasan, chairman and CEO of Tractors and Farm Equipment Limited (TAFE), the third largest tractor manufacturer in the world, and the late Jayshree Venkatraman, director of TAFE (Power Source Division). Mallika is the wife of Venu Srinivasan, chairman of TVS Motors. MF records list Indira as a shareholder in Stanbridge Company Ltd, which was incorporated in 1999 in the BVI. Records show that shares of the older couple were transferred to their daughters in 2011 and eventually, in October, 2011 Malika Srinivasan relinquished her shares “for personal reasons” to one Ved Prakash Ahuja. READ STORY
Satya Prakash Gupta Overseas entity: Sterling Global Partners Limited Location: Ras Al Khaimah (UAE) Delhi businessman Satya Prakash Gupta set up Sterling Global Partners Limited in August 2015 through financial service providers Anglo Manx Trust Company Limited and Mossack Fonseca (MF) in Ras Al Khaimah, United Arab Emirates (UAE). Before setting up the UAE company, Mossack Fonseca records show, the 67-year-old Gupta took up a “full-time job” as Global Head (Marketing and Business Development) with M/s NextGen General Trading LLC (Dubai) in March 2015. His two-year contract from April 1 mentions an annual salary of $100,000 plus performance bonus, and annual travel and business reimbursement up to $1 million. READ STORY
Amrita Jhaveri Offshore entity: Amaya Limited Location: Seychelles Art diva opened Seychelles company to hold ‘asset in Switzerland’ In a 2013 interview to Sotheby’s magazine, art collector Amrita Jhaveri, speaking on her Amaya Collection, said the word in Sanskrit means without illusion. Mossack Fonseca documents show that Amaya Limited was the company she set up in Seychelles in 2005, primarily to “hold asset in Switzerland”. READ STORY
Gargi Barooah Overseas entity: Walker Foundation Location: Panama Gargi Barooah, daughter-in-law of the late Dr Hemendra Prasad Barooah, Padma Shri and the grand old man of Assam’s tea industry, was the sole beneficiary of Walker Foundation set up in Panama in April 2010. Gargi moved to the US with her minor daughter in 2010.
Ankita Sehgal & Nimitt Rai Tiwari Overseas entity: Suncell Holding SA Location: British Virgin Islands Nimitt Rai Tiwari and Ankita Sehgal, husband and wife, together owned Suncell Holding SA incorporated in the British Virgin Islands on September 16, 2011. From the day the company was formed, show Mossack Fonseca documents, they held 25,000 shares each in Suncell Holding — which issued a power of attorney to Nimitt on September 29, 2011. The two married in November 2011.
Bhaskaran Raveendran Offshore entity: SVS Investment Inc Commerce graduate Bhaskaran Raveendran, 51, who belongs to Thiruvananthapuram, went to Russia in 1991, where he worked for 20 years as a consultant for a commodity firm, dealing mainly with coffee. He then spent three years in Vietnam as a consultant for a cashew business, before returning to Thiruvananthapuram in 2013. Mossack Fonseca records show that Bhaskaran has been associated with SVS Investment Inc as a power of attorney holder and to act as a manager and facilitator.
M/s Trimblesh ‘N’ Savas Overseas entity: The Mine Tyre & Truck Services Group Pvt Ltd Location: BVI Mossack Fonseca documents show that M/s Trimblesh ‘N’ Savas — it is a company that trades in specialised tyres and is owned by Delhi businessman Viney Krishan Chaudhri — owned all 100 shares in The Mine Tyre & Truck Service Group Pvt Ltd (BVI) ever since it was incorporated in the British Virgin Islands on August 20, 2009.
Chinnamaruthu Shanmuga Sundarapandian Overseas entities: Panasia Star Ltd, Wir Fashion Holding Pvt Ltd Location: BVI Chinnamaruthu Shanmuga Sundarapandian, a director in two offshore companies in the BVI called Panasia Star Ltd and Wir Fashion Holding Private Ltd, lives in Choolaimedu, a middle-class neighbourhood in Chennai. His name was added as shareholder in the two companies in March 2015, the MF papers show.
Uday Pratap Singh Overseas entity: Steel Engineering Limited Location: BVI Uday Pratap Singh was a shareholder of Steel Engineering Limited, a company incorporated in the British Virgin Islands on July 19, 2007. One Umesh Somani held all 1,000 shares of the company since its incorporation. The shares were transferred to Uday Pratap Singh in 2011. Steel Engineering Limited (BVI) was struck off on April 30, 2012, according to the MF papers.
Sylvia Fay Bhatia & Alok Bhatia Overseas entities: Hazelwood Enterprises Limited, Others Location: British Virgin Islands Mossack Fonseca documents show that Sylvia Fay Bhatia owns at least five companies in the British Virgin Islands either herself or with her husband Alok Bhatia. The address given is of Saket, New Delhi. Sylvia is the daughter of Australian mining billionaire Chris Wallin.
Johnny Manglani Offshore entities: JM Group of Companies Ltd, Others Location: BVI, Cyprus A major player in men’s fashion clothing, Johnny Manglani has registered a host of offshore entities in the BVI and Cyprus. There are almost 1,000 MF documents listed for one of them, JM Group of Companies Ltd, which was registered in 2007, including records of at least seven other Cyprus firms of which it is shown as the holding company. Manglani’s wife Elmira and daughters Anita and Dasha are listed as shareholders of JM Group of Companies Ltd.
Nish Bhutani Offshore entity: Arts Alliance Media BVI Ltd Location: BVI Nish Bhutani, global head of product at Vuclip, a US-based online video-on-demand firm, held 3.41 per cent, or 34,583 ordinary shares of $ 0.01 value each, in Arts Alliance Media BVI Ltd. The company was incorporated on April 17, 2003 in the BVI. His residence mentioned in the Mossack Fonseca documents is 26 Ridge Road, Malabar Hill, Mumbai. The bulk of the shareholding in the company — 81.55% or 827,416 shares — is with a company called Cheetah International Investments Ltd, headquartered in Guernsey.
Dilip J Thakkar Dinesh Parameswaran Nair Offshore entity: Geldin Trading Co. Location: BVI Dinesh Parameswaran Nair belongs to Ranni village in Kerala’s Pathanamthitta district. The son of a small-time copra (desiccated coconut) trader left home after graduation and worked for several years in Mumbai before moving to Hong Kong in 2008. Documents in the MF files show Dinesh Parameswaran Nair as a director of a company called Geldin Trading Co. which was incorporated in the BVI on August 17, 2007. The Certificate of Incumbency shows that he has 25,000 shares in the company along with a Chinese national.
Dilip J Thakkar Overseas entity: Kansu Corporation Location: Bahamas Chartered Accountant Dilip Jayantilal Thakkar, 79, is a senior partner of Jayantilal Thakkar & Co. and Jayantilal Thakkar Associates in Mumbai. He has 40 years’ experience in the field, and is on the board of at least 14 companies including Essar Oil and Essar Ports, according to Bloomberg. According to the documents accessed by The Indian Express, Thakkar was a director of Kansu Corporation, a company registered in the Bahamas.
Sushila, Prerna and Gaurav Chopra Offshore entities: Jelenta Investments Limited, Zenith Metallik Alloys Limited Location: BVI The three Chopras have been shareholders of Jelenta Investments Limited since the company was set up in the British Virgin Islands (BVI) on April 9, 2010. Jelenta Investments Limited (BVI), in turn, is the shareholder of Zenith Metallik Alloys Limited, set up in the BVI on April 11, 2012. Records of both companies are kept in Hong Kong.