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Offshore Leaks Database

Data from
Panama Papers - The Power Players
Former head Delhi branch of political party

Anurag Kejriwal

British Virgin Islands company set up for iron ore trading

Related to

India

About

Anurag Kejriwal was the president of Delhi branch of India’s Lok Satta party until his expulsion in 2014 after an undercover exposé showed him offering political access, influence and privileges to outside interests. The Lok Satta party, a former nongovernmental organization, became a political party in 2006 and has no current members of Parliament.

In the data

Kejriwal and his wife set up their first company in the British Virgin Islands in 2007. In 2008 and 2010, they restructured their assets and established two foundations in Panama of which they, and their son, were beneficiaries. Through The Nedstar Foundation, they owned Nedstar Commercial Ltd. and Newington Group Trading Ltd., both based in the BVI. Newington's activity was trading in iron ore. Through The Pruak Foundation, they owned Biscay Overseas Limited — later renamed Biscay Exports Limited — and Krims Investments Inc., also based in the BVI. They signed a financing agreement with the bank BNP Paribas (Suisse) SA for Nedstar Commercial. In 2011, 2012, and 2013, Mossack Fonseca received documents related to legal proceedings against Kejriwal's companies. The Nedstar Foundation and Nedstar Commercial were inactivated in 2011, Biscay in 2012, and both Krims and Pruak in 2013. Newington was struck off in October 2012.

Response

Kejriwal said he set up entities in Panama and the British Virgin Islands because business partners "had agreed to finance or support the exports of iron ore" from India. He said he soon realized that having offshore companies could be a problem. When he learned he had to declare his income from the companies to the Indian government and had difficulty obtaining bank credit, he closed the offshore companies in 2010. The two foundations were closed shortly after they were set up, he said.
This visualization contains relevant information in relation to the profiled individual. Some additional connections might show up once we release the full structured data connected to the Paradise Papers investigation in the coming weeks.

Disclaimer

There are legitimate uses for offshore companies and trusts. The inclusion of a person or entity in the ICIJ Offshore Leaks Database is not intended to suggest or imply that they have engaged in illegal or improper conduct. Many people and entities have the same or similar names. We suggest you confirm the identities of any individuals or entities included in the database based on addresses or other identifiable information. The data comes directly from the leaked files ICIJ has received in connection with various investigations and each dataset encompasses a defined time period specified in the database. Some information may have changed over time. Please contact us if you find an error in the database.

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There are legitimate uses for offshore companies and trusts. The inclusion of a person or entity in the ICIJ Offshore Leaks Database is not intended to suggest or imply that they have engaged in illegal or improper conduct. Many people and entities have the same or similar names. We suggest you confirm the identities of any individuals or entities included in the database based on addresses or other identifiable information. The data comes directly from the leaked files ICIJ has received in connection with various investigations and each dataset encompasses a defined time period specified in the database. Some information may have changed over time. Please contact us if you find an error in the database.