Niira Radia, the founder of Vaishnavi Communications, and infamous for the ‘Radia Tapes’ controversy, has now appeared on the list of Panama Papers.
According to The Indian Express,
Niira Radia indianexpress
She has been linked to a company in the British Virgin Islands, which her office has denied. Niira Radia’s name appears on the Panama Papers as ‘Nira’, (she uses Niira in real life).
On Radia, the revelation said lobbyist Niira Radia had owned one offshore entity in the British Virgin Islands (BVI) registered by Panama-based law firm Mossack Fonseca (MF) in 1994 named Crownmart International Group Limited.
The company, called Crownmart International Group Limited, was struck off the records of the law firm in 2009. Radia’s office however, said she was not a beneficiary of the company and the said entity was set up by her late father Iqbal Narain Menon. Also that Radia had disclosed her assets to the authorities in UK and India and that such information was personal and confidential for third parties.
Subsequent to the demise of Ms Radia’s father in 2003, this company went into administration/ liquidation perhaps in 2007,” Radia’s office told the newspaper.
Panama-based law firm Mossack Fonseca qz
Radia’s name appeared in the document trove without the extra “i” that she later added to her first name, and she was reportedly referred to as a British citizen, according to the report.
The name of Radia is important in the sense that the Income Tax Department had been probing alleged offshore assets linked to Radia and her flagship company Vaishnavi Communications.
Radia had grabbed much media attention in the 2G spectrum scam probe in 2008-09, with her telephonic conversations with ministers, journalists and business tycoons becoming public.
Biggest leak of over 11 million documents of Panama law firm features over 500 Indians linked to offshore firms indianexpress
Apart from Radia, nearly 500 Indians were named in the Panama Papers, including actors Amitabh Bachchan and Aishwarya Rai Bachchan, for allegedly using services of Mossack Fonseca to set up companies in offshore tax havens.
The files show how Mossack Fonseca clients were able to launder money, dodge sanctions and avoid tax.