'IAS officer and wife of Delhi power secy among those who invested in tax haven'

Oct 17 2013, 14:45 IST
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The 612 Indians on the list of those who have invested in tax havens.(AP) The 612 Indians on the list of those who have invested in tax havens.(AP)
SummaryThey are among 612 Indians whose names were published in a global media exposé.

secretary R K Verma, is a shareholder in Windsor Incorporation Inc., which was started in July 2007 with an authorised share capital of $50,000. The memorandum of association and other company documents say it is involved in “investment”. A housewife, Ritu Verma gave the official residential address of her husband when Windsor was being incorporated. R K Verma declined to comment.

n Khaitan, a Delhi-based lawyer, registered Windsor Group Holdings Ltd in the BVI on May 12, 2009. He was also on the board of Chandigarh-based company Aeromatrix, which Italian investigators have alleged was one of the channels through which kickbacks in the IAF’s VVIP helicopter deal were distributed.

The investigators had also alleged that Khaitan was partially a partner in a Mauritius company called Interstellar Technologies Ltd., which they suspected was the node through which most payments were made.

The other partners in Interstellar were the three brothers of former air chief S P Tyagi and Swiss-based middlemen Guido Haschke and Carlo Gerosa.

Reached for his comment on registering Windsor in the BVI, Khaitan said: “I deny having any such company registered in the BVI.”

Details of the new names are published on www.indianexpress.com.

A Central Board of Direct Taxes analysis of the offshore data has found that 170 names on the list had used their addresses in Mumbai to register the entities in the British Virgin Islands and 113 had used Delhi addresses. The income tax notices have also been sent to 44 addresses in Kolkata, 32 in Bangalore, 26 in Chennai and 14 in Hyderabad, among others.

The two-page notices - sent by investigation wings of the income tax department in Delhi and Mumbai and accessed by The Indian Express - demand full disclosure by owners of these entities.

They demand all details and transactions of all offshore companies/firms/ trusts as well as all transactions of the entities with the domestic firms of those who have registered these offshore entities.

The addressees have been asked to give details about having disclosed such transactions to the income tax department in the past. They have also been asked to submit a set of eight listed documents which include all details of incorporation, financial statements, investments and loans/advances for each offshore company.

The addressees have been given one month’s time to reply with proof that all offshore financial interests and transactions had been disclosed in their 2012-13 IT returns as required by law.

Several NRIs on the

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