PANDORA PAPERS
A tip-off opened NEET Pandora's box: Mystery call on 4 criminals led Bihar police to crack paper leak case
An anonymous whistleblower's tip to Patna police exposed a nationwide NEET-UG fraud network. Four suspects were arrested, leading to the discovery of a large-scale operation where candidates paid Rs 30-50 lakh for leaked questions. The investigation revealed a vast network involving coaching institutes, teachers, and students, with significant evidence seized and multiple arrests made.
FEMA case: Niranjan Hiranandani appears before the ED
Niranjan Hiranandani, co-founder of Hiranandani Group, appeared before the Enforcement Directorate (ED) in connection with an alleged forex violation probe. The ED had summoned Niranjan and his son, Darshan Hiranandani, in February. The probe involves alleged Foreign Direct Investments (FDI) of over Rs 400 crore received in group companies, violating FDI norms.
Shakira tax fraud case: Colombian pop star strikes deal with Spanish prosecutors to avoid trial
Shakira has managed to strike a last-minute deal with prosecutors in Spain, averting a trial that could have led to an eight-year prison sentence and hefty fines. Despite her recent legal woes, Shakira succeed at the Latin Grammys, claiming three awards and maintaining her musical prowess amid the courtroom drama.
Pandora Papers leak: ED seizes asset worth over Rs 36 cr from Goa miner's son Rohan Timblo
The Enforcement Directorate has seized an asset worth Rs 36.8 crore belonging to Rohan Timblo, the son of a Goa miner, as part of an investigation into the 'Pandora Papers' leaks that unveiled his alleged undisclosed foreign exchange outside India. The investigation revealed that Rohan Timblo owned an offshore family trust and three associated entities that came under the scanner of the Inland Revenue Authority of Singapore. Rohan Timblo was found to have contravened the provisions of section 4 of FEMA, 1999, and an immovable property of his has been seized.
ED seizes shares held by Goa mining Baron's Estate
The Directorate of Enforcement (ED) has seized the entire shareholdings of 33 companies owned by the estate of the late Anil Salgaocar over alleged foreign exchange violations. The ED alleges that Anil Salgaocar contravened the provisions of section 4 of the FEMA in holding assets outside India, leading to a total violation of $690,650,641 (around INR 5,718 crore).
Forex violation case: Tina Ambani appears at ED office in Mumbai
Tina Ambani appears at ED office in Mumbai. Anil Ambani and Tina are under lens for forex violation; allegations linked to Pandora papers. Reliance ADA Group Chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) and recorded his statement in connection with an...
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Pandora Papers: ED seizes Rs 30.60 crore investments in case against businessmen brothers
The 'Pandora Papers' global leaks surfaced in 2021 after the International Consortium of Investigative Journalists (ICIJ) came out with 2.94 terabyte of data trove that exposed the offshore secrets of wealthy elites from more than 200 countries and territories including India.
These new fangled money traps can hurt millennials and their finances
Like any generation before them, millennials and Gen Z also remain vulnerable to money traps. Only, the temptations now come in different shapes.
Foreign Asset case: I-T raids on premises linked to Hiranandani group
“The raids are underway in connection with a foreign asset case. The group’s founders, brothers: Niranjan and Surendra are being probed in connection with their undisclosed offshore investments in a trust,” a source familiar with the developments told ET.
I-T draws blank as tax havens mum on shut accounts, defunct companies
Once the trust or the investment entity ceases to exist, tax haven authorities are under no obligation to give out the underlying info. Zurich banks may have archived details of accounts going back before World War II, but they shut the doors when asked for information prior to April 1, 2011 when the treaty with India came into effect.
Taxman widens Pandora Papers probe against Indians
Beyond disclosing their ownership in existing foreign assets, people named in the Pandora expose are being told to spell out details of bank accounts which no longer exist and were closed long ago, firms that were dissolved, directorships in overseas firms and tax residency status over the past 16 years.
Black money SIT to keep tabs on Pandora probe, I-T dept told to ensure prompt action
Earlier this month, the ICIJ released data that claimed to expose the offshore financial dealings of wealthy and prominent people from more than 200 countries and territories. These, the Pandora Papers, are based on leaked records of 14 offshore service providers that provide professional services to wealthy individuals and corporations.
Multi-Agency Group preliminary investigation on Pandora Papers begins, holds first meeting
Sources further told that the MAG also have a platform of Organisation for Economic Co-operation and Development (OECD) where, through Spontaneous Exchange Information, India can ask for information from countries concerned.
Whistleblowers, whistle cautiously
One may regard whistling different from blowing a mechanical whistle. But both are calls for attention - the former to oneself; the latter to others or as a warning. Blowing a whistle in many societies signifies pleasure or even a show of innocence when one is suspected of something dodgy.
Kiran Mazumdar-Shaw says 'Pandora Papers' wrongly implicates husband's offshore trust
'Pandora Papers' have named 300 Indian individuals, including Sachin Tendulkar, Anil Ambani, Nirav Modi and Kiran Mazumdar-Shaw.
Pandora Papers: Financial secrets of global elite, including Indians leaked
The so-called "Pandora Papers" investigation -- involving some 600 journalists from dozens of media including The Washington Post and The Guardian -- is based on the leak of some 11.9 million documents from 14 financial services companies around the world.
Key members of Pak PM's inner circle among over 700 Pakistanis named in Pandora Papers leaks
Leaked documents revealed that "key members" of Prime Minister Khan's inner circle, including cabinet ministers, their families and major financial backers "have secretly owned an array of companies and trusts holding millions of dollars of hidden wealth".
Leaked 'Pandora' records show how the powerful shield assets
Hundreds of politicians, celebrities, religious leaders and drug dealers have been hiding their investments in mansions, exclusive beachfront property, yachts and other assets, according to a review of nearly 12 million files obtained from 14 firms located around the world.
Pandora Papers: Anil Ambani, who declared bankruptcy in UK, is rich otherwise
The offshore system siphons money from government treasuries, worsens wealth disparities and protects those accused of wrongdoing while depriving their victims of recourse, explains The Washington Post, which along with Indian Express, were part of a media consortium who investigated Pandora Papers.
Pramod Mittal is in the soup, once again: Pandora Paper Leaks
In 2012, his firms Global Steel Holdings Ltd (GSHI) and Global Steel Philippines Inc had defaulted on payments of around $348 million-plus interest to State Trading Corporation of India (STCI), prompting the state-owned company to file various cases against Mittal and the companies.
Pandora Papers allegations: Kiran Mazumdar-Shaw says grossly misrepresented facts
"Sharing my Notification to Stock Exchange with facts on my husband John Shaw's offshore trust. Both John and I are law-abiding citizens and have always been in compliance with all the applicable regulations," she said.
The buzz behind Pandora Papers decoded in 7 points
They were open secrets, flourishing as custodians to hidden wealth of the super rich. All that began to change with the 2008 financial meltdown when sovereigns looked for funds as tax coffers ran dry.
Pandora row: Foreign assets part of legitimate transactions, say companies
According to the Pandora Papers, some of the shares of Biocon, the company that Shaw heads, are owned by Glentec International, a Mauritius company that acted as the settlor of an overseas trust whose protector is the owner of an entity that was banned from trading for a year by Sebi.
Pandora Papers: A money bomb with political ripples
The report was based on what its authors described as 11.9 million records leaked from 14 firms in the offshore financial services industry, depicting how the wealthy hide their assets.
The point that everyone is missing in the 'Pandora Papers' leak
Whether offshore structures are created simply for the purposes of secrecy, or for hiding illegitimate assets, or for exploiting a legal loophole, what the Pandora Papers will do is to once again bring to the forefront the fact that tax havens have outlived their utility. We cannot have a world where some people pay substantial taxes in compliance with their legal obligations, and others who use 'cute structures' to bypass the law and evade tax.
India will investigate Pandora Papers cases: Finance Ministry
"The relevant investigative agencies would undertake investigation in these cases and appropriate action would be taken in such cases as per law," the Ministry of Finance said in a statement.
Abolish tax havens: Oxfam India on Pandora papers revelations
Leaked documents and a worldwide journalistic partnership on Sunday claimed to have uncovered financial secrets of current and former world leaders, politicians and public officials.
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