10-04-2021, 09:19 AM
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Member
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Join Date: Dec 2008
Location: India
Posts: 80,566
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What do “Pandora Papers” Reveal about Business Personalities?
- “Pandora Papers” have disclosed that Reliance ADA Group Chairman Anil Ambani and his representatives own 18 offshore companies with an overall transaction value of USD 1300.5 million in Cyprus, Jersey, and British Virgin Islands (BVI), according to Indian Express which has investigated the “Pandora Papers”.
- Executive Chairperson of Biocon Ltd of Kiran Mazumdar Shaw’s husband John McCallum Marshall Shaw owns 99 per cent in Mauritius-based Glentec International which has shares of Biocon. Glentec set up The Deanstone Trust in New Zealand. Notably, John McCallum Marshall Shaw is a British Citizen, according to an Indian Express report.
- The Deanstone Trust in New Zealand was protected by Kunal Kashyap who was barred from trading in the stock market for a year by Securities and Exchange Board of India (SEBI) in July this year. Kunal Kashyap was penalized for insider trading in Biocon Ltd shares, the Indian Express report says.
- “Pandora Papers” have revealed that Ajay Ajit Peter Kerkar, now arrested promoter of travel firm Cox and Kings Ltd, is owner of two trusts in British Virgin Islands. His name is also linked to around six offshore firms, the Indian Express report said.
- Niira Radia’s name is there in “Pandora Papers” with around 12 offshore firms. Her name was mentioned in the “Panama Papers” too, the IE report says.
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