Indian big shots from Politics, Business, film and some other industries persons are heading on Panama Paper Scandal. As we know that it is as Indian Black Money Names list.

The Indian Black Money Names list of prominent personalities, who were found to be attached to offshore companies across the world in the leaked Panama Papers, includes names like Amitabh Bachchan, Aishwarya Rai Bachchan, DLF owner K P Singh and Gautam Adani’s elder brother Vinod Adani. Two politicians who figure on the list are Shishir Bajoria from West Bengal and Anurag Kejriwal, the former chief of the Delhi unit of Loksatta Party, the report said.

According to the report, a year-long probe by investigative journalists has revealed how world leaders use offshore accounts in tax havens to hide their wealth, evade taxes and launder money in spite of measures already in place which should be preventing these exact things.

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Till 2003, no Indian was allowed to set up an overseas entity. But in 2004, RBI liberalized the norms and allowed Indian to buy shares in overseas companies but never allowed them to set up companies abroad. The leaked papers have revealed that most of the offshore companies set up by the Indians were much before 2004.

The Panama Papers is a global investigation into the sprawling, secretive industry of offshore that the world’s rich and powerful use to hide assets and skirt rules by setting up front companies in far-flung jurisdictions.