Congress seeks RBI probe into Ajit Doval’s son’s tax haven hedge fund
Seeking investigation by the Reserve Bank of India (RBI) on National Security Advisor (NSA) Ajit Doval’s son Vivek Doval’s Cayman Islands hedge fund, senior Congress leader Jairam Ramesh on Thursday said the central bank must publish the source of funds received from tax havens.
“Within 13 days of PM Modi announcing demonetisation, Vivek Doval opened a hedge fund in Cayman Island, which is a tax haven. Opening funds there is not illegal, but questions must be raised on how as per RBI data from 2000 to 2017, India received ₹8,300 crore FDI from Cayman, but post demonetisation, India received approximately the same amount in just one year alone,” Ramesh said at a press conference in New Delhi.
Referring to the Bhartiya Janata Party’s (BJP) committee formed in 2011 on “Indian Black Money Abroad: Secret Banks and Tax Havens”, which included RBI director S Gurumurthy, Doval, IIM-Bangalore professor R Vaidyanathan and senior advocate Mahesh Jethmalani, the senior Congress leader said. “In his own report, Doval had said that details of FDI from tax havens must be made public. We are just asking them to adhere to their own report.”
Ramesh added that Doval also needs to answer about how “Don W Ebanks, a man named in both Panama and Paradise Papers, was made a director in Vivek Doval’s company”. He also alleged that there were links between Doval’s other son Shaurya Doval’s company Zeus Strategic Management Advisors Pvt Ltd and GNY Asia.