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Listed companies named in Panama Papers such as DLF, Apollo Tyres, Indiabulls Housing Finance and Indiabulls Real esate fell 1.8-2.2 per cent when Nifty 50 closed up 0.6 per cent.
Adanis escape onslaughtGautam Adani’s elder brother, Vinod Adani has also been named. But Adani Group companies are not related to the elder brother. Hence, Adani Enterprises jumped 5.9 per cent while Adani Power ended up 1.15 per cent. Adani Ports and Special Economic Zone ended down 0.12 per cent.
Indian Express reported on Monday that according to Mossack Fonesca over 500 Indians figure on the list of offshore companies, foundations and trusts. Besides Bollywood superstars Amitabh Bachchan and Aishwarya Rai Bachchan, the list includes corporates namely DLF owner KP Singh and promoters of Apollo Tyres.
Mossack Fonesca is a law firm headquartered in Panama and operates in tax havens, including Switzerland, Cyprus and the British Virgin Islands, and in the British crown dependencies Guernsey, Jersey and the Isle of Man.
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