SHILLONG: The CSWO has demanded that investigation needs to be expanded by the Income Tax department with regards to those who have invested in off shore accounts according to revelation in the Panama Papers.
Last week, the income tax department had raided the Shillong residences of businessmen whose names figured in the Panama papers.
In a statement issued here on Sunday, Agnes Kharshiing, CSWO president said that there is a need to know how much of public money has gone into these investments, through subsidies, loans as there is clear abuse of power through agencies of the state government including Meghalaya Industrial Development Corporation (MIDC), the single Window Agency and others.
According to Kharshiing, people named in the Panama Papers from Meghalaya are all interconnected. .
“It has to be inquired as to who is Karan Jain and Reshmi Rohit Jain, whether there is any connection with Rohit Jain, Chairman C M J Breweries, who is the same person who was also notified as one of the Board of Directors of MIDC in 2009 and 2013”, Kharshiing alleged.
The people named in the Panama papers from the State, should clear all doubts especially when they are related to one or the other in Governance, one (Philip Pala) being the brother of the sitting MP of Shillong Vincent Pala.
“If there were legal investments (all seem to have common business investments) they should publicly share the details of their off shore holdings with balance sheets and others and what these companies do”, Kharshiing said.
The statement pointed out that, according to records, Leslie Shylla has been holding on to Crowborough Hotel and had not been paying the rent regularly, leaving the unit of Directorate of Tourism, MTDC, almost cashless, “so how can he afford to go and deposit money in off shore companies”, the organization questioned.
One of the salient features of the Meghalaya Industrial & Investment Promotion Policy 2012 is that, the State Government believes in promoting private enterprises for speedy economic development of the State.
“How can this be achieved when off shore accounts are being opened and funds deposited there”, Kharshiing asked while adding that this has to be carefully investigated into, so that public funds are not drained out of the State.
According to the latest Panama Reports twelve national leaders are among 143 politicians, their families and close associates from around the world known to have been using offshore tax havens.
