Business India Lifestyle Politics World

Panama Papers 2.0 matter takes new turns as some shocking names comes in light

Panama Papers 2.0 matter takes new turns as some shocking names comes in light
Written by Abhishek Lohia

New disclosures have been made in the Panama Papers leak case. In April 2016, some Indian names have been published in an email to Panama’s law firm Mossack Fonseca revealed new names of ultimate beneficial owners of some previously registered companies, new records show. Among them are Ajay Shakti, owner of PVR Cinema, son of telecom czar Sunil Bharti Mittal and Hike Messenger CEO Kevin Bharti Mittal and Asian Paints promoter Ashwani Dhani’s son Jalaj Ashwin Dhani. These are those people who companies have been known to be registered in abroad. Mossack was working for all of these companies. In the latest disclosures, there are 12 lakh documents in which 12000 documents belong to the Indians.

There were 1.15 crore documents in 2016. It was discovered jointly by the International Federation of Investigative Journalists (ICIJ) and German newspaper Suduc Zeitung. It has also been revealed by the documents that the law firm of Panama saw his bookkeeping of Mossack Phonkska. Mossack had sent a notice to the Indians when documents related to the registration of their companies were low. After this, Mossack Fonseka gave 90 days’ notice to all its clients in which he talked about resigning from a registered agent because the companies were failing to fulfill the legal formalities.

In the new records, there are two other sets of documents linked to Mittal and KBM Global Limited. The first shows that on October 31, 2016 — six months after the Panama Papers — a notice was published by British Virgin Islands Financial Services Commission with the information that the registered agent of the company had been changed from Mossack Fonseca to Harney’s Corporate Services Limited, both located in Tortola in the BVI.  READ | Soon after Panama Papers leak, Iqbal Mirchi’s family rejigged offshore holdings  The other set of documents show how the shareholding pattern of the two BVI companies changed in March 2016 and how 14 shares from Anten Resources were transferred to Minerva Nominees Limited, (which were) “held under declaration of Trust for Kavin Bharti Mittal”

In the new records, there are two other sets of documents linked to Mittal and KBM Global Limited. The first shows that on October 31, 2016 — six months after the Panama Papers — a notice was published by British Virgin Islands Financial Services Commission with the information that the registered agent of the company had been changed from Mossack Fonseca to Harney’s Corporate Services Limited, both located in Tortola in the BVI. The other set of documents show how the shareholding pattern of the two BVI companies changed in March 2016 and how 14 shares from Anten Resources were transferred to Minerva Nominees Limited, (which were) “held under the declaration of Trust for Kavin Bharti Mittal” (Report Via Indian Express)

Those who have registered companies in foreign countries are Shiv Khemka, Amitabh Bachchan, Jahangir Sorabjee, DLF Group’s KP Singh and his family, Anurag Kejriwal, Naveen Mehra of Mehrishnas Jewelers and Hazara Iqbal Memon and their families. According to the Indian Express report, the disclosures made in 2016 were recognized that Amitabh Bachchan is the director of Lady Shipping Limited and Treasure Shipping Limited. They received a 90-day notice by the Minerva Trust in the UK. He was working as the administrator of these two companies. In this case, the name of another company C Bulk Shipping Company Limited was also revealed.

 

About the author

Abhishek Lohia

Abhishek Lohia is a Sports and Political Writer at Newsfolo. He has been working as a Journalist for 2 years and has previously worked at Sportsflu, Sportscafe, and some other Digital Channels. He covers the ruling BJP Government, civic bodies, and Indian politics. He also covers latest Sports News and Live Coverage. He is a graduate in Electrical Engineering from IPEC College, Sahibabad. He can be reached at; [email protected], you can also follow him on twitter @chiraglohia2

Leave a Comment