Tuesday 19 March 2019

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Anil Salgaocar’s 11 firms and Garware Goa Nets figure in Panama papers

 

Indian Express has released the first list of Indians figuring in Panama papers, which include late Anil Salgaocar, one of the leading miners of Goa as well as Garware family’s Goa firm Garware Goa Nets.

The Panama papers reveal that Goa’s mining baron and former MLA late Salgaocar had set up 11 offshore companies.

Salgaocar family has told Indian Express that they are unaware of these offshore entities.

However, the news report states that name of Arjun, son of late Anil Salgaocar, figures as a director in some of these companies.

Similarly, the list also enlists several industries of Garware family, having offshore links.

One of them is Garware Goa Nets Ltd, set up at Corlim Industrial Estate in Goa.

It was registered on 10 February 1972 and manufactures other textiles.

The directors are Aditya Ashok Garware, Narendra Shantaram Surve, Pradip Shantilal Shah, Shyamsunder Vasudev Atre.

Following are the details of both the Goa-based industrialists, as provided by Indian Express:

ANIL VASUDEVA SALGAOCAR

No. of offshore entities: 11
Location:BVI

A Goa-based mining baron and former MLA, Anil Vasudeva Salgaocar had set up 11 offshore companies with the help of MF, mostly in the BVI, with a majority of them being incorporated between 2004-2005 with Vasco Da Gama in south Goa as the India address.

Salgaocar, 75, died in Singapore in January following illness.

These offshore entities include Ling Tao Trading Ltd, Horizon Villa Investments Ltd, GBA Shipping Ltd, Jamana Finance Limited, GBA Minerals Limited, Nickon Enterprises Ltd, General Harvest International Ltd and Crown Bright Trading Ltd, among others, with records showing that a majority were set up between 2004-2005.

Records show that many of the 11 companies were struck off MF’s lists in 2007 and 2008.

Anil Salgaocar’s son Arjun Anil is also listed as a director in some companies.

In 2007, Anil Salgaocar did not disclose these offshore companies to the Election Commission when he contested and won the assembly polls from Sanvordem.

Response: A member of Salgaocar’s family, who did not wish to be identified, said: “I am in no position to comment on this since we are not aware of these business interests. Nothing is known to us about these companies.”

— Ritu Sarin/New Delhi

GARWARE FAMILY

Offshore entities: Rondor Overseas Ltd, others
Location:BVI and Panama

MF records show that the Garware family, comprising Ashok Garware, Aditya Garware and Sushma Garware, is associated with a clutch of offshore entities.

Ashok Garware is a shareholder in Rondor Overseas Ltd, registered in BVI on May 10, 1996, holding 1,000 shares of $1 each and a capital of $10,000.

Aditya Garware and Sushma Garware hold a Power of Attorney (PoA) in a number of Panamanian corporations that issued bearer shares.

Ashok Garware is the executive chairman of Global Offshore Services, earlier known as Garware Offshore Services, which owns and operates a fleet of anchor-handling tugs cum supply vessels and platform supply vessels in India, Europe and the Far East.

Garware’s son Aditya is the managing director of Global Offshore.

Other firms of the Garware Group include Garware Goa Nets, Garware Marine Industries and Garware Offshore International Services Pte.

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Total Comments :2

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Rajat these people are all hindus not christians. and you are not a goan as we do not Kumars. so shut up

 
franx , Margao

I'm not surprised. Other Salgaokars, Dempos, Timblos will also be there, if not seen on the list. Recently when this guy died, he was hailed as a big hero!

 
Rajat Kumar , Goa

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