Pandora papers the latest leak of financial records of some of the world’s elite class and powerful people revealed named of over 300 Indians. This global leak of the offshore dealings exposed nearly 12 million documents from 14 global firms in a tax haven with details of ownership of Rs 29,000 shell companies and trusts.
The International Consortium of Investigation Journalists claimed it obtained heaps of more than 11.9 million confidential files to disclose secret investments of many super-rich personalities.
Amongst the Indian list, the names of legendary Cricketer Sachin Tendulkar has surfaced. According to ICJ “Tendulkar’s attorney said the cricket player’s investment is legitimate and has been declared to tax authorities.” Another name that has erupted was of the super-rich Indian business tycoon, Anil Ambani, who was declared bankrupt in a UK court. ICJ reveals that the tycoon owned 18 shell companies in Jersey, the British Virgin Islands and Cyprus.
As per the details disclosed by ICJ, analysis of identified documents of nearly 965 companies was discovered in offshore havens in relation to 336 high-level politicians and public officials, including country leaders, cabinet ministers and ambassadors.
The Pandora Papers reveal the financial status of the famous and notorious elite class individuals who otherwise are on the radar of the investigative agencies. These papers reveal the inner working of what is a shadow financial world, providing a rare window into the hidden operations on a global level. These can be in the form of emails, share certificates, memos, incorporation records and compliance certificates complex and opaque.