NEW DELHI: Union minister Jayant Sinha's title has cropped up in the leaked record of 'Paradise Papers' of businesses having offshore entities globally even as he on Monday stated the transactions weren't executed for any "personal purpose".
Sinha had worked with Omidyar Network as Managing Director in India and Omidyar Network had invested in a US corporate D.Light Design that has a subsidiary in the Cayman Islands, consistent with a file in response to the Paradise Papers investigation.
In a sequence of tweets, Sinha stated the transactions were felony and legit.
The transactions were undertaken on behalf of extremely reputed world-leading organisations in my fiduciary position as spouse at Omidyar Network and its designated consultant on the D.Light Board, the minister of state for civil aviation stated.
"It is crucial to note that these transactions were done for D.Light as an Omidyar representative, and not for any personal purpose," he famous.
Sinha, who's a former undertaking capitalist, additionally stated these kinds of transactions had been totally disclosed to related authorities through all essential filings as required.
"After leaving Omidyar Network, I was asked to continue on the D.Light Board as an independent director. On joining the Union Council of Ministers, I immediately resigned from D.Light Board and severed my involvement with the company," the minister stated.
Sinha had previous served as minister of state for finance.
The Paradise Papers is an investigation into offshore and banking assets performed by the Indian Express with the International Consortium of Investigative Journalists (ICIJ).
Sinha had worked with Omidyar Network as Managing Director in India and Omidyar Network had invested in a US corporate D.Light Design that has a subsidiary in the Cayman Islands, consistent with a file in response to the Paradise Papers investigation.
In a sequence of tweets, Sinha stated the transactions were felony and legit.
The transactions were undertaken on behalf of extremely reputed world-leading organisations in my fiduciary position as spouse at Omidyar Network and its designated consultant on the D.Light Board, the minister of state for civil aviation stated.
"It is crucial to note that these transactions were done for D.Light as an Omidyar representative, and not for any personal purpose," he famous.
Sinha, who's a former undertaking capitalist, additionally stated these kinds of transactions had been totally disclosed to related authorities through all essential filings as required.
"After leaving Omidyar Network, I was asked to continue on the D.Light Board as an independent director. On joining the Union Council of Ministers, I immediately resigned from D.Light Board and severed my involvement with the company," the minister stated.
Sinha had previous served as minister of state for finance.
The Paradise Papers is an investigation into offshore and banking assets performed by the Indian Express with the International Consortium of Investigative Journalists (ICIJ).
Paradise Papers: No transactions done for 'personal purpose', says Jayant Sinha
![Paradise Papers: No transactions done for 'personal purpose', says Jayant Sinha]()
Reviewed by Kailash
on
November 06, 2017
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