 "A Mossack Fonseca law firm logo is pictured in Panama City April 3, 2016. Photo: Reuters/Carlos Jasso")
Hours after the government announced it would set up a multi-agency group to investigate the names revealed in the Panama Papers leak, a second set of revelations has revealed names of industrialists Gautam and Karan Thapar, politician Anurag Kejriwal, among others, according to a report in The Indian Express.
On Monday, The Indian Express published the first part of the Panama Papers in which it said nearly 500 Indians had set up offshore entities with the help of Panamanian law firm Mossack Fonseca. The list includes Bollywood actors, industrialists and politicians. The revelations are a part of an investigation by The Indian Express with the International Consortium of Investigative Journalists.
On Tuesday, the Express published a second set of names, with responses from some of them.
Gautam and Karan Thapar
Currently, Gautam runs Avantha Group, which controls Ballarpur Industries Limited (BILT) and Crompton Greaves, while Karan owns EICL Limited, along with Greaves Cotton and Premium Transmission.
Both the brothers set up a private foundation each in Panama. Gautam set up Charlwood Foundation in July 2005. His wife was said to be the principal beneficiary, while he retained the right of nominating any person as principal beneficiary. The entity has filed its returns as recently as 2015. Meanwhile, Karan set up Nikom International Foundation in October 2005. He appointed himself as advisor with similar powers. His foundation was taken off the books on February 3, 2015.
Anurag Kejriwal
The politician and former Delhi president of the Lok Satta party is said to have three offshore entities and two foundations. Mossack Fonseca’s records show him to be a director in 3 offshore entities in British Virgin Islands. He also floated at least two private foundations in Panama and is seen as holding power of attorney of another BVI company.
Kejriwal is a director in BVI-based Newington Group Trading Ltd, Nedstar Commercial Ltd and Krims Investments Inc. He also holds power of attorney with all rights in another company called Biscay Overseas Ltd, also registered in BVI.
His family floated two private foundations — The Nedstar Foundation and The Pruak Foundation. Anurag and his wife Uttara are primary beneficiaries of both the foundation.
Ashwani Kumar Mehra
The owner of Mehrasons Jewellers owns seven offshore entities across Bahamas and British Virgin Islands.
His wife, sons and daughters in law are also directors in two of these firms. Meanwhile, PTC Limited is said to be shown as a secretary or a shareholder in other companies.
Satish Govind Samtani, Vishlav Bahadur and Harish Mohnani
Satish, Vishlav and Harish are shown as directors in two offshore companies in British Virgin Islands - Design & Quality Ltd and Trileon Limited.
Design & Quality Limited, registered in December 2008, will be shut down on April 30, 2016. Trileon Limited, with Bahadur and Samtani as directors, was closed down in 2012.
Gautam Seengal
Gautam Seengal owns an offshore entity in Jeff Morgan Capital Limited. It is located in the British Virgin Islands. Records show that he registered two offshore entities in his name and solicited advice for opening others for his clients.
“I do not have any relation with these companies and, in fact, they belong to my father. After a family division, I am no longer part of these companies,” he told the newspaper.
Prabhash Sankhla
This retired Madhya Pradesh government employee is a director in Lotus Horizon SA, which was incorporated in July 2012 in Panama.
The other two directors, his daughter Sheetal Singh and son-in-law Rajeev Singh, are both Canadian nationals based in Toronto.
"I am only an honorary director in this company. I have not paid a single paisa and I am not involved in their business. I will reply accordingly if I get a notice," he said.
Vinod Ramchandra Jadhav
The chairman of Pune-based Sava Healthcare is listed as a director or shareholder in several offshore firms, mostly set up in British Virgin Islands 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, The Indian Express reported.
"All our global companies and directorships and relevant incomes are declared to RoC (Registrar of Companies), Income Tax and RBI as needed every year. But the same were not declared in last year’s amnesty scheme since it was applicable for companies or individuals which didn’t declare their foreign assets," he told in response to the newspaper.
Ranjeev Dahuja, Kapil Sain Goel
Both Dahuja and Goel were directors of Bealls International Corp, a company set up in the British Virgin Islands in June 2012.
Records from the law firm show both of them having equal shareholding of 5,000 shares each.
The company later closed down in October 2013.
Vivek Jain
Records from the law firm have revealed Jain as a director in Sacvinam Global SA. The company was registered in the British Virgin Islands in 2010. He held 79,000 shares of the company
He was also a shareholder in Radiant World Holdings, which was registered in Hong Kong in 2011. This company is listed as a shareholder of Sacvinam in a document dated December 2, 2011.
