ICIJ Expose 9 Indian Names who got the BVI, Bank Accounts in Tax Heaven
ICIJ Expose 9 Indian Names who got the BVI, Bank Accounts in
Tax Heaven
I do not know why People open account in tax heavens.
Do you think they open the bank accounts in tax heavens to
hide the black money, which can be used to do black deeds?
Following are the names of nine Indians who are names by
ICIJ who got the bank accounts in tax heavens.
1-
Ravikant Ruia is a member of India's fourth richest family.
He is vice-chair of Essar Group, a multinational conglomerate
The documents obtained by ICIJ show he has three firms in
the British Virgin Islands (BVI).
His daughter, Smiti, is a shareholder in two of them.
One of Ruia's flagship companies, Essar Power, has further
BVI entities that are named in the ICIJ documents.
2-
Another owner of BVI companies is Teja Raju Byrraju. He is
the eldest son of Ramalinga Raju, the former chairman of Satyam Computers, who
was jailed in a fraud case
The documents obtained by ICIJ appear to show that the son,
Teja Raju, registered two BVI companies in 2007, Global Network Overseas and
Stapley Universal Limited. Their purpose is unclear.
3-
Vijay Mallya, an elected member of the upper house of
India’s parliament
The documents obtained by ICIJ show Mallya linked to a
company called Venture New Holding Limited that was registered in the BVI in
2006.
Mallya is a non-resident Indian with business activities in
different parts of the world.
4-
Another member of Parliament that appears to be listed in
the ICIJ documents is Vivekanand Gaddam, a member of the ruling Congress
Party.
Gaddam is also vice-chairman of Visaka Industries, which
produces about one quarter of India's asbestos needs.
Gaddam and his wife Saroja are listed as directors and
shareholders of a BVI company called Belrose Universal Limited, which was
incorporated in September 2008.
5-
Another on the list is textile and fertilizer tycoon Abhey
Kumar Oswal.
The documents appear to show that Oswal registered 11
companies in Samoa and the BVI, beginning in 2006, and that he controlled them
through a trust called Rising Wealth Trust, registered in the Cook Islands
6-
The world’s largest producer of cut roses, Sai Ramakrishna
Karuturi, also appears in the documents. He and his wife Anitha appear to have
registered six BVI companies in 2007.
7-
Also on the ICIJ list are two prominent Mumbai-based
jewelers, Rashmi Kirtilal Mehta and his son Bhavin Mehta.
Father and son are shown as joint shareholders in a BVI
company registered in 2004 called Bapaji Incorporated.
8-
Praboth Mehta, another prominent business figure in India,
was named in 2011 as one of 18 Indians who had bank accounts in the European
tax haven of Liechtenstein.
9-
Another name on the Liechtenstein list was the late K M
Mammen Mappillai, the founder of India’s leading tire manufacturer, MRF Tyres.
The documents show a BVI company called Moon Mist Enterprise
Limited.
Mappillai's two sons, MRF chairman Kandathil Mammen and its
managing director Arun Mammen, along with Kandathil's son Rahul Mammen
Mappillai, a MRF director, are shown as directors of the BVI firm.
Suggested Reading –
Source – ICIJ
Reality views by sm –
Tuesday, April 16, 2013
Tags –ICIJ Tax Heaven Expose
2 comments:
intriguing topic sm
@MEcoy
thanks.