The Congress on Thursday alleged National Security Adviser Ajit Doval’s son Vivek started a hedge fund in Cayman Islands days after demonetisation and demanded a probe by the Reserve Bank (RBI) into FDI inflows from the tax haven.
Senior Congress leader Jairam Ramesh also asked the RBI to make public details of FDI inflows from Cayman islands since demonetisation, which he claimed were to the tune of Rs 8,300 crore during 2017-18 and equalled total funds flowing into India between 2000 to 2017. Ramesh, however, did not substantiate his allegations with any documentary evidence.
For his part, CPI-M leader Sitaram Yechury also tweeted demanding answers from Doval citing a media report on the issue to allege that the role of the PMO and its top security official was under a “dark shadow”. He said it was the prime minister’s responsibility to ensure the NSA’s accountability as he was not accountable to Parliament being an un-elected official, and asserted “silence amounts to culpability”.
Yechury said, “The role of Modi’s PMO and its top security official is under a dark shadow. Serious questions of probity and propriety get more weight due to NSA Doval’s role in the Rs 59,000 crore Rafale scam, where he was illegally negotiating in Paris withthe French. Doval, who has grabbed more and more power for himself under Modi, can’t be above the rule of law”.
Ramesh at a Press conference alleged that a hedge fund GNY Asia was opened in Cayman Islands on November 21, 2016, 13 days after demonetisation, with Vivek Doval as one of its directors. The former Union Minister also alleged that while there are three more directors of GNY, one of them is Don W Ebanks whose name appears in Panama’s ‘Paradise papers’ also referred as ‘Panama papers’.
Alleging that “there is certainly a link between demonetisation and FDI inflows from Cayman islands”, he said this is a “round tripping of money” and demanded a probe. “This is not FDI, it is round tripping of demonetised money and has a direct link to black money.. There should be a probe into the FDI that came into the country from Cayman Islands after demonetisation,” he demanded, saying, “GNA owes an explanation to the country”.
“What is the role of GNY Asia in FDI inflows. We demand that the Reserve Bank makes public all funds from where money has come into the country from Cayman Islands,” Ramesh said. He said the RBI should publish details of all those who brought in money from Cayman islands.
“There should be complete information on this made available to the public,” he said, adding “the RBI should probe the identity of funds who brought in Rs 8300 crore in one year”.
“It is not natural that we raised this question. A Prime Minister of a neighbouring country had to resign after his name appeared in the Panama papers,” he said, alleging that the name of a former chief minister’s son also appears in these papers. Ramesh also sought to know what are the relations between Vivek Doval’s fund GNY Asia and Zeus Capital, another company in which his brother Shaurya Doval has business interests.
Cayman Islands are an autonomous British Overseas territory in the western Caribbean Sea, which is considered a tax haven.
