To start with, Bahamas is a group comprising of 700 Islands in the Atlantic Ocean north of Cuba. Interestingly, the Panama leak and the Bahamas leak operations are taken by the same International Consortium of Investigative Journalists (ICIJ) and its media partners.
Big names have been highlighted with Panama issue, and the same is being repeated now the #bahamasleaks. The Islands are Tax-free paradise for any one. Hence many black money holders find it a way to make their transactions legal.
Mainly 475 Indian names have been screened amongst the 1, 75,000 names worldwide. Out of 475 Indians, many Hyderabad-based firm names and individual names have been highlighted. This came at a point of time when the Indian government has set a deadline of September 30th, 2010 for the declaration of unaccounted or undisclosed money till date.
Now, Bahamas leak might be an asset for the Indian government and Income Tax department to take action against the black money holders and Tax evaders.
Vedanta Group’s Anil Agarwal, Erstwhile Baron Group’s Kabir Mulchandani, Fashion TV India promoter Aman Gupta and On clave PTC, a trust company are the big names at National level. Coming to the state level, Nimmagadda Prasad, a business tycoon, is a major name that is being aired by the local media channels.
Chandigarh-based Harbhajan Kaur and Gurjit Dhillon, mother-daughter duo linked to one Century Industries registered in the Bahamas, Aman Gupta the chairman of a Finnish water brand Sanjiv Kapoor, Jitendra P Patra and Sadat Rafiq Multani Myra Delores Rego of Mumbai and Ashok Chawla of Delhi are linked with an American and a Brit are named in the Bahamas leak.