Pandora Papers leak: ED seizes over Rs 36-cr worth asset of Goa miner's son
New Delhi (PTI): The Enforcement Directorate Saturday said it has seized an asset worth Rs 36.80 crore of a Goa-based miner's son as part of its investigation into 'Pandora Papers' leaks which "revealed" his alleged undisclosed foreign exchange outside India.
The seizure order against Rohan Timblo has been issued under section 37A(1) of the Foreign Exchange Management Act (FEMA).
Rohan is the son of Goa-based miner Radha Timblo, the agency said in a statement.
The probe was initiated against Rohan Timblo "on the basis of Pandora Paper leaks where it was revealed that he owned an offshore family trust and its three underlying corporate entities which have come under the scanner of the Inland Revenue Authority of Singapore (IRAS)".
The 'Pandora Papers' global leaks surfaced in 2021 after the International Consortium of International Journalists (ICIJ) came out with 2.94 terabyte data trove that exposed the offshore secrets of wealthy elites from more than 200 countries and territories including those from India.
The probe found that Asiaciti Trust Singapore Pte Ltd provided corporate trustee services to the Colares Trust, of which Rohan Timblo was the "sole settlor" and one of the beneficiaries alongwith his wife Mallika Timblo and their children, the ED said.
The Colares Trust had three underlying corporate entities-- Calheta Holdings Ltd, Samoa; Cazar Finance S.A, BVI and Corylus Assets Inc, Panama, it said.
"The capital fund available under administration of Colares Trust in 2012 was USD 4,499,620. The same was not declared by Rohan Timblo before the Indian authorities," the agency alleged.
Hence, it said, by acquiring foreign exchange outside India Rohan Timblo "contravened" the provisions of section 4 of FEMA, 1999 for a total amount of USD 4,499,620 (about Rs 37,34,68,460) and accordingly an immovable property of Rohan Timblo has been seized.
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HC rejects contempt petition against Swami Avimukteshwaranand
Prayagraj (PTI): The Allahabad High Court on Friday rejected the contempt application filed against Swami Avimukteshwaranand Saraswati and and his disciple Mukundanand Brahmachari, seeking punitive action over alleged disobedience of court order.
Ashutosh Brahmachari Maharaj had filed the petition alleging violation of court order passed while granting anticipatory bail to Avimukteshwaranand in a POCSO case registered at Prayagraj.
Rejecting the application, Justice Dinesh Pathak observed that the applicant could file for cancellation of anticipatory bail granted by the court, if he is violating bail conditions.
In the contempt application it was alleged that inspite of the order of high court, Avimukteshwaranand is holding several meetings and is making statements in violation of high court order.
Earlier, Justice Rohit Ranjan Agarwal had recused himself from hearing the contempt petition saying that he does not want to hear the matter. After this, the chief justice nominated Justice Pathak to hear the matter.
