‘Paradise’ rocks black money boat, Cong says PM has failed

NEWDELHI:THE Congress on Monday said the government has failed to take action against holders of black money stashed abroad, after the leaked Paradise Papers showed names of many Indians related to offshore financial holdings.

The Opposition challenged the PM to take action against the alleged black money trail.

"Will the Prime Minister show the courage of conviction to hand over this entire information to the bench of Supreme Court that is looking at action against black money holders? Will the ‘Compromised Bureau of Investigation’ and ED (Enforcement Directorate) take action?” Congress spokesperson Randeep Surjewala said.

Referring to the Bjp-led NDA government’s campaign against black money, Surjewala said PM Modi has not taken action against black money stashed by Indians abroad and corruption. “Did Prime Minister Modi unleash the demon of demonetisation on the people of India as a diversionary tactic to save these people?” he questioned.

The leaked papers reveal that civil aviation minister Jayant Sinha was a director in a US company D. Light Design that has a subsidiary in Cayman Islands. This subsidiary raised a loan of US$3 million. A loan agreement dated December 31, 2012 was signed with Jayant Sinha as a signatory and a director.

The party demanded that Modi initiate action against Sinha whose name figures alongside 713 other individuals and entities from India.