30 Hyderabad companies named in Panama Papers
It is the registered address of the China-based company “Zhao Zhi Junâ€, which is in turn linked to a British Virgin Islands company.
Hyderabad: The Panama Papers mention at least 30 companies that are registered in Hyderabad and other areas of Telangana including BHEL MIG Ramachandrapuram and Visakhapatnam in Andhra Pradesh.
Read: Singleton in Panama Papers, but no office in Karimnagar
Interestingly most of the addresses, when verified, were found to be ordinary residential houses. For instance, one of the addresses in BHEL MIG phase 2, when verified, turned out to be the residence of an advocate.
Read: Panama Papers: Companies genuine, says Industralist Prasad’s son
It is the registered address of the China-based company “Zhao Zhi Jun”, which is in turn linked to a British Virgin Islands company. A search at the Ministry of Corporate Affairs revealed that the same address is also registered to a company named Rakshana Mines and Minerals Limited.
Read: Nearly 2,000 Indian firms offshore in latest edition of Panama Papers
Interestingly there are some companies named in the Panama Papers with registered addresses in Saleemnagar in Malakpet, Anandnagar in Khairatabad and Ramkote. Usually these areas do not host large corporate international companies.
Read: Panama Papers: No probe into offshore firms
The Panama Papers also named industrialists K. Krishna Mohan Rao, V. Malla Reddy, M. Kameswara Rao, P. Surender Reddy, Moturi Srinivas Prasad, Volam Bhaskar Rao, Koneru Madhu and Jaya Kumar Bhavanasi from AP, TS and Chennai as having offshore companies. Mr Prasad, Mr Bhaskar Rao, Mr Madhu and Mr Bhavanasi had earlier said that they hadn’t done anything illegal.