by The International Consortium of Investigative Journalists
About Download Support Us

Former head Delhi branch of political party

Anurag Kejriwal

British Virgin Islands company set up for iron ore trading

Related to  India
Data from: Panama Papers
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.
Former commander-in-chief, Venezuelan Armed Forces
Víctor Cruz Weffer
Grandchild of high-ranking Chinese Communist official
Jasmine Li

Find this content interesting and worth supporting?

Donate to ICIJ. Help us continue investigating important global issues. Gifts made today will be matched up to $10,000.

Donate now
Donate now