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Amitabh Bachchan, Jayant Sinha among 714 Indians named in Paradise Papers linked to tax havens

by IBNS 05 Nov 2017, 08:14 pm

New Delhi, Nov 6 (IBNS) : In what is being described as the largest leak of financial data, 714 big Indians, including corporate heavyweights, politicians and entertainment leaders, are among the global behemoths, who are suspected to have used offshore tax havens to evade taxes, media reports said.

The revelation comes from “Paradise Papers”, as the documents  are being called by a collective of international journalists who after months of ferreting a clutch of records and internal communications from Bermuda's Appleby and Singapore's Asiaciti presented their findings on Sunday night.

Paradise Papers refer to a trove - 13.4 million files - of financial data leaked from two firms 

Indian Express is  one of the organisations reporting findings from the documents.

It  identified  actor Amitabh Bachchan,  Minister of state for Civil Aviation Jayant Sinha, Rajya Sabha MP RK Sinha, lobbyist Neera Radia and  actor Sanjya Dutt's wife Manyata Dutt as  among 714 Indians linked to tax havens.

 Prominent Indian corporates in Appleby database include Jindal Steel, Apollo Tyres, GMR Group, Havells, Hindujas, Emaar MGF, Videocon, the Hiranandani Group and DS Construction

 It is said that  Bermuda firm Appleby and Singapore-based Asiaciti helped the ultra-rich & powerful move money abroad

Appleby allegedly helped clients set up offshore firms & manage bank accounts to evade taxes, manage realty, buy planes and yachts, move tonnes of money across the globe.

India ranks 19 out of the 180 countries represented in the data in terms of the number of names.