After Panama Papers, offshore firm saw 30-fold rise in authorised …


After Panama Papers, offshore firm saw 30-fold rise in authorised capitalAfter Panama Papers, offshore firm saw 30-fold rise in authorised capital Panama Papers: Lokesh Sharma said in an email: “All transactions relevant to our family are compliant with applicable laws.”

When tax monitors started probing offshore entities set up by Mossack Fonseca in the British Virgin Islands (BVI) following the Panama Papers revelations two years ago, at least one Indian client of the law firm took an unusual step.

New records investigated by The Indian Express show a 30-fold increase last year in the authorised capital of a BVI entity linked to Delhi-based sports promoter Lokesh Sharma. They show that he also added members of his family as shareholders.

On April 7, 2016, The Indian Express had reported during its investigation of Panama Papers records that Sharma, managing director of

... read more at: https://indianexpress.com/article/india/panama-papers-mosseck-fonseca-lokesh-sharma-twenty-first-century-media-private-limited-offshore-5229682/