38.6c New Delhi, India, Monday, August 04, 2025
Top Stories Supreme Court
Political NEWS Legislative Corner Celebstreet International Videos
Subscribe Contact Us
close
Business

Pandora Papers: 'Financial secrets' of 380 elite Indians revealed; here's all you need to know about it

By Dolly Chhabda      05 October, 2021 02:29 PM      0 Comments
Pandora Papers: 'Financial secrets' of 380 elite Indians revealed; here's all you need to know about it

The names of several Indian businessmen, celebrities and politicians have been revealed in an unprecedented leak of financial documents. This expose is called as pandora Papers. 

The expose was led by the International Consortium of Investigative Journalists (ICIJ) in Washington DC. The leak discloses the names of 330 politicians from 90 countries who used secret offshore companies to hide their wealth.

There are at least 380 Indians in the Pandora Papers including nclude Anil Ambani, Sachin Tendulkar, and Kiran Mazumdar Shaw among others. Sixty of these prominent individuals and companies have been verified and have had their documents corroborated.

Overseas, the Pandora Papers expose dealings of the king of Jordan, the presidents of Ukraine, Kenya and Ecuador, the prime minister of the Czech Republic, and former British Prime Minister Tony Blair.

The Indian Express reported that: The files also expose the financial activities of Russian President Vladimir Putins unofficial minister of propaganda and more than 130 billionaires from India, Russia, the United States, Mexico, and other nations.

Why is it Called Pandora Papers? 

It is called as the Pandora Papers because the findings shed light on the previously hidden dealings of the elite and the corrupt, and how they have used offshore accounts to shield assets collectively worth trillions of dollars.

What do the Pandora Papers reveal?

The Pandora Papers reveal how the rich, the famous and the notorious, many of whom were already on the radar of investigative agencies, set up complex multi-layered trust structures for estate planning, in jurisdictions which are loosely regulated for tax purposes, but characterised by air-tight secrecy laws.

The purposes for which trusts are set up are many, and some genuine too. But a scrutiny of the papers also shows how the objective of many is two-fold: i) to hide their real identities and distance themselves from the offshore entities so that it becomes near impossible for the tax authorities to reach them and, ii) to safeguard investments cash, shareholdings, real estate, art, aircraft, and yachts from creditors and law enforcers.



Share this article:



Leave a feedback about this
TRENDING NEWS

sc-sets-aside-order-declaring-man-as-juvenile-on-basis-of-school-certificate
Trending Judiciary
SC sets aside order declaring man as juvenile on basis of school certificate [Read Judgment]

SC: School certificate from private school not valid proof of age, sets aside order declaring murder accused as juvenile.

04 August, 2025 11:24 AM
hp-may-vanish-in-thin-air-god-forbid-sc-on-ecological-imbalance-in-himachal-pradesh
Trending Judiciary
‘HP may vanish in thin air, God forbid', SC on ecological imbalance in Himachal Pradesh [Read Order]

SC warns HP may vanish due to ecological imbalance; seeks state’s action plan amid rising disasters, deforestation, and climate change threats.

04 August, 2025 11:31 AM

TOP STORIES

why-so-many-students-dying-by-suicides-sc-asks-iit-kharagpur
Trending Judiciary
Why so many students dying by suicides, SC asks IIT Kharagpur

SC asks IIT Kharagpur why students are dying by suicide; raises concern amid rising campus deaths despite new mental health guidelines.

29 July, 2025 11:51 AM
sc-takes-suo-motu-cognisance-of-dog-bite-incidents
Trending Judiciary
SC takes suo motu cognisance of dog bite incidents

Supreme Court takes suo motu cognisance of rising dog bite cases after 6-year-old girl dies of rabies; terms media report alarming and disturbing.

29 July, 2025 01:38 PM
sc-quashes-fir-against-ace-shuttler-lakshya-sen-others-for-forging-birth-certificate
Trending Judiciary
SC quashes FIR against ace Shuttler Lakshya Sen, others for forging birth certificate [Read Judgment]

SC quashes FIR against shuttler Lakshya Sen, says forgery case based on vendetta, lacked merit and abused criminal process.

29 July, 2025 04:20 PM
supreme-court-to-hear-presidential-reference-on-bill-clearance-timelines-from-august-19
Trending Judiciary
Supreme Court to Hear Presidential Reference on Bill Clearance Timelines from August 19

SC to hear Presidential Reference on timelines for Governors & President to clear Bills, from Aug 19 to Sept 10; Kerala & TN oppose maintainability.

29 July, 2025 04:43 PM

ADVERTISEMENT


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email