IT raids businessmen named in Panama

SHILLONG, JUNE 2: The Income Tax department in Shillong raided the residence and offices of three state’s businessmen Philip Pala, Rohit Jain and Lesley Shylla on Thursday named in the leaked Panama papers.

Philip Pala’s- who is the brother of sitting Shillong Lok Sabha MP Vincent Pala- house was raided by the IT officials at Malki,  residence and office of Rohit Jain at Laban and Keating road and Lesley Shylla residence at Nongrim Bah.

The three businessmen are reportedly shareholders in two off shore companies Azure Enterprises Global Inc and Eternal Enterprises Inc based in British Virgin Island and have addresses in Cyprus.

IT officials said that search and seizures of those named in the leaked Panama papers have begun in Meghalaya and they are verifying detail of the people based on their past income tax returns, PAN numbers, disclosures made in the black money window last year, remittances received under the liberalised remittances scheme are under surveillance.

Besides the three Earce Clifford Kharsyntiew, Bokstar Kurkalang, Karishma Jain, Karan Jain, Reshmi Rohit Jain and Kenneth Fletcher Rangad were also named in the Panama Papers as shareholders of the off shore companies  in notorious.

But the four businessmen namely  Kharsyntiew, Shylla, Kurkalang and Pala lawyer SP Sharma said the offshore investments of his clients were legal.

Sharma informed that his clients had right to invest money anywhere they wish either in Meghalaya or any other state or even in foreign countries as per the law of the country.-By Our Reporter