This cache of 13.4 million documents tumbled out 18 months after Panama Papers: both sets of data were obtained by German newspaper Süddeutsche Zeitung and were investigated by the International Consortium of Investigative Journalists (ICIJ) working in partnership with 96 news organisations. In India, The Indian Express, just as it did with the Panama Papers, investigated these records for over 10 months to come up with the India list. Here are the stories:
The company — which has described itself as an “emerging growth company” with no business operations of its own has declared that they were developing and implementing “controls and procedures’’ to ensure that we are in compliance with the FCPA and similar laws.
The government has taken cognisance of some Indian names released in the media which are allegedly linked to the Pandora Papers leak, MoS for Finance Pankaj Chaudhary stated.
On June 8, the Enforcement Directorate (ED) searched the office of Cox & Kings, the residences of its promoter Ajay Ajit Peter Kerkar and other senior executives under the Prevention of Money Laundering Act in connection with a Rs 3,642 crore fraud at Yes Bank Ltd.
The Double Taxation Avoidance Agreement (DTAA) was signed between India and Mauritius in 1982. Under this, any entity could apply for tax residency and pay zero capital gains tax. This became the principal reason why Mauritius emerged as a top channel for investments being routed into India.
After the release of the Paradise Papers, the Finance Ministry announced that details of offshore holdings of 714 Indians named would be investigated by the Multi Agency Group which was set up after publication of the Panama Papers in April 2016.
According to Indian laws, it is not illegal for Indians to own property in Dubai. As per the Foreign Exchange Management Act of 1999, resident and non-resident Indians are allowed to own immovable properties abroad.
Of the 129,000 entries in the Dubai database from 181 countries, those of Indians form a sizeable chunk with 5,800 linked to properties in top sites such as the Palm Jumeirah, The World, Motor City, Emirates Living, Dubai Marina, Burj Dubai, Old Town Island.
The raids, led by additional director of I-T in Ludhiana Ritesh Parmar, began Wednesday night and continued on Thursday. Around 15 teams of income tax department carried out the raids at different places in Jalandhar and Ludhiana.
Paradise Papers, a cache of 13.4 million documents investigated by The Indian Express, reveals how two firms Bermuda’s Appleby and Singapore’s Asiaciti Trust helped the global rich and powerful move their money abroad.
The 100-day vigil: How a custodial death case ended in a state-ordered cremation
India30 min ago
After 100 days, the body of 26-year-old Dalit man Akash Delison was finally removed from a government hospital and cremated under police protection. His family had demanded justice for his alleged death in police custody and refused to accept the body until all 16 involved officers were arrested. Despite actions taken, their demand for accountability remains unmet.
