- Pakistan’s Prime Minister Nawaz Sharif constrained out of office, on account of the Panama Papers
- Sharif’s leave comes after a long-drawn fight in court which finished ominously for him
- This raised questions about whether India’s mighty are at all prone to meet a similar destiny that Nawaz Sharif did
New Delhi, August 3, 2017: Sigmundur Davíð Gunnlaugsson of Iceland and Nawaz Sharif of Pakistan are similar in ways that they cannot be proud of. Both of them are prime ministers who were constrained out of office, on account of the Panama Papers, which is an investigative news coverage activity that revealed offshore shell organizations and tax shelters in light of spilled records from Panamanian law office Mossack Fonseca.
Be that as it may, while Gunnlaugsson surrendered, not long after the Panama Papers report prompted dissents in Iceland a year ago, Sharif’s leave today arrives after a fight that was long-drawn in court which finished ominously for him.
In India as well, there is not lack of prominent names that were included in the list of Panama Papers. Indian Panama incorporates best legal counselor Harish Salve, industrialist Gautam Adani’s senior sibling Vinod Adani, and Bollywood hotshot Amitabh Bachchan. But contrasted with the speed at which Pakistan’s offices and judiciary followed up on the case of Sharif, is the pace of India on the subject of Panama Papers impressively slower?
The following is a passage from an article in Indian Express by Ritu Sarin in March 2017, one of the writers who was a part of the group exploring the Panama Papers.
“Nearly a year after The Indian Express published the Panama Papers, tax authorities have succeeded in obtaining 165 replies — partial or complete — from among 13 jurisdictions where Indian nationals had incorporated offshore companies through the Panamanian law firm Mossack Fonseca. According to data made available at the latest meeting of the Multi Agency Group (MAG) last month, the number of Indian clients of Mossack Fonseca, whose PAN numbers had been traced, has swelled to 424. Of these, 205 have accepted links to offshore entities named in the global expose. However, 60 other Indians named in the Panama Papers remain untraced.”
Sarin feels that it would be unfair to put an allegation on the Indian agencies of being relaxed in tackling the Panama Papers.
Rita Sarin added that she had hardly noticed the tax department act in such a swift manner. She compared investing offshore to the long process of peeling an onion, where you have to go layer by layer.
It is a fact that Pakistan managed to finish the Nawaz Sharif Panama case in barely a year, but what about the procedures on the prominent names of Indians displayed in the Panama Papers?
Sarin mentioned that all the individuals named in the Panama Papers, including the famous people were sent a notice. There will be a PIL in the Supreme Court. Notwithstanding when the duty dept is giving status reports to the SC. So in the event that they are not obliged to let even the SC know, there is no compulsion on them to tell us. Tax probes are exceptionally private, that is the idea of a duty examination. We will just become more acquainted with when individuals are prosecuted.
“All I can say is that each one of the people named by us were given tax notices. They must have been subsequently summoned and the case is in progress. Whenever there was a requirement or a suspicion of tax evasion, those requests were sent to the offshore jurisdictions. So that process is underway” she elaborated.
Indeed, even if the jokes proceed with it is worth asking if India’s mighty are prone to meet a similar destiny as Nawaz Sharif. Or, on the other hand, will their position and status postpone this test indefinitely?
-prepared by Harsimran Kaur of Newsgram. Twitter Hkaur1025
Click here for reuse options!
Copyright 2017 NewsGram