ICIJ leaks throw more light on Reddy's tax haven investments

CBI is probing mining baron's holdings in Isle of Man

ICIJ leaks throw more light on Reddy's tax haven investments

The offshore leaks documents by the International Consortium of Investigative Journalists (ICIJ) has thrown more light on former minister Gali Janardhana Reddy's investments in tax havens. 

While the Central Bureau of Investigation (CBI) is in persistent communication with Isle of Man, a tax haven, for information relating to Reddy's GLA Trading International Pvt Ltd, it is found that the money trial also leads to investments in another tax haven British Virgin Islands (BVI). These investments are made in the company linked to the key man at Singapore by name Arangannal, son of Kathamuthu. Arangannal was named in Lokayukta report as the link to Reddy. ICIJ leaks reveal that Reddy has made investments in companies in BVI where Arangannal is a director. 

The information from ICIJ's offshore leaks has come at a time when CBI is waiting for an approval to file appeal against a CBI Special Court order discharging a few accused in Associated Mining Company (AMC) against Reddy and others and discharge of all the accused in the Deccan Mining Syndicate case. The CBI was simultaneously enquiring into Reddy's investments in tax havens. Sources said the CBI investigation has not moved much despite several communications with Isle of Man for details of Arangannal and his links with Reddy. The CBI has been writing since 2011 through Letter Rogatory process seeking details, but in vain.  The Lokayukta report stated that one share of GLA was transferred in favour of GJR Holdings International Ltd and further transferred in favour of Interlink Services Group Ltd in BVI. Now, it has come to light that Arangannal is the director of Interlink Services Group Ltd (ISGL) and that GJR Holdings has invested in the same company. 

Interestingly, Arangannal also has investments in two other BVI companies namely - Intelco Services Group Ltd and Uniglow International Services Ltd. This is not all. The earlier director of Man-Go-Pub Ltd namely Seah Seow Kang Steven is a director of a BVI company - Anchorage Overseas Group Ltd, as per ICIJ leak. With GJR Holdings International Ltd learnt to have made investments in BVI companies, only an intensified CBI investigation will throw more light into Reddy's complete off shore investments and also ascertain whether the investment in Interlink and two other BVI companies has links to illegal mining, CBI sources say. 

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