A fresh trove of 13.4 million corporate records accessed by the International Consortium of Investigative Journalists (ICIJ), and now being referred to as Paradise Papers, expose how the high-heeled set up alleged offshore companies to evade tax.
In 2015, Panama Papers, made public by the ICIJ, revealed the tax havens used by the rich and mighty to stash their wealth through a firm Mossack Fonseca.
Amitabh Bachchan, 
Sanjay Dutt's wife Manyata Dutt, Union minister 
Jayant Sinha, Niira Radia, and chairman of Fortis-Escorts Dr Ashok Seth have been named in the Paradise Papers.
HERE IS ALL YOU NEED TO KNOW ABOUT PARADISE PAPERS' INDIA CONNECTION:
Most of the records investigated by the International Consortium of Investigative Journalists (ICIJ) are from a Bermuda law firm Appleby.
The company is a member of a global network of lawyers, accountants and bankers involved in setting up offshore companies, managing bank accounts to help clients avoid or evade taxes, manage real estate assets, open escrow accouts, purchase aeroplanes and yachts at lower tax rates, or simply help move money across the globe using offshore entities.
Among the 180 countries represented in the data, India ranks 19th in terms of number of names. A total of 714 Indians have been named in the Paradise Papers. Readers should note that not all offshore transactions are necessarily illegal.
Union minister Jayant Sinha's name also figures in the Paradise Papers. According to the Indian Express, which is a partner of ICIJ, before Sinha was elected as an MP from Hazaribagh in 2014 he worked with Omidyar Network as its managing director in India. The company invested in a US firm D.Light Design which has a subsidiary in Cayman Islands in the Carribean Sea.
D.Light Design took a loan of USD 3 million through its Cayman Islands subsidiary and Sinha was a director at D.Light Design when these decisions were taken, reports Indian Express.
The minister took to Twitter to state that "these transactions were done for D.Light as an Omidyar representative, and not for any personal purpose". Sinha said that these transactions "have been fully disclosed to relevant authorities through all necessary filings as required".
The other prominent Indian name in Paradise Papers is that of Dr Ashok Seth, chairman of Fortis-Escorts, who has been honoured with the Padma Bhushan and Padma Shri.
Records investigated by the ICIJ show that in 2004 Dr Seth was was given shares by a Singapore-based company that manufactures stents, before the company went public. Subsequently, Seth prescribed these stents to his patients and cashed in on these shares.
Paradise Papers show how the high-heeled set up alleged offshore companies to evade tax.