On 8th November 2017, Union Government will observe first “Anti-Black Money Day”, first anniversary of demonatisation and here comes the largest ever financial data leak.
World’s biggest data leak happened recently, it is the Paradise Papers leak. Paradise papers leak shined the light on corporate giants and other big celebrities allegedly edged taxes and hidden income of famous Indians.
The Paradise Papers leak list contains 714 Indians’ names. After almost 18 months of Panama Papers leak, the 13.4 million documents of Paradise Papers include names from Amitabh Bachchan to Liquor Baron Vijay Mallya among others.
Indian Express reported about this. Total data leaked under Paradise Papers covered 180 countries. India is on number 19 as per the number of names involved.
German Newspaper Süddeutsche Zeitung released the data and investigated by the International Consortium of Investigative Journalists (ICIJ). This data originates from Bermuda’s Appleby and Singapore’s Asiaciti and 19 tax havens across the world.
This paper leak raises a crucial issue that how firms like Appleby help MNCs to find loopholes in law to avoid taxes in their particular country.
Indian company Sun Group, by Nand Khemka is Appleby’s second-largest client internationally. Other Appleby’s Indian clients are many prominent corporates.
Indian names in Paradise Papers records:
Sun-TV-Aircel-Maxis case; Essar-Loop 2G case; SNC-Lavalin in which Kerala Chief Minister Pinarayi Vijayan was named, then cleared; the Rajasthan ambulance scam which has recently been routed to the CBI and which names a company called Ziquista Healthcare; and fresh financial links in a CBI case against YSR Congress Chief YS Jagan Mohan Reddy.
Bollywood Legendary actor Amitabh Bachchan’s shareholding in a Bermuda Company, Niira Radia, Sanjay Dutt’s wife Manyata Dutt (former name Dilnashin), Minister of State for Civil Aviation Jayant, BJP Rajya Sabha MP R K Sinha, liquor baron Vijay Mallya and many others.
Other Indian Companies names in the list includes Jindal Steel, Apollo Tyres, Havells, Hindujas, Emaar MGF, Videocon, the Hiranandani Group and D S Construction.
Apart from India, Paradise Papers data includes Russian firm’s investment in Twitter and Facebook, ties between Russia and US President Donald Trump’s billionaire commerce secretary Wilbur Ross; and more than 120 politicians, including former Pakistan Prime Minister Shaukat Aziz.
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