AMN / NEW DELHI
Minister of State for Civil Aviation Jayant Sinha has said the transactions at Omidyar Network and its designated representative on the D.Light Board were legal and bonafide and not for any personal purpose.
Mr Sinha in a series of tweets said, the transactions were undertaken on behalf of highly reputed world-leading organisations in his fiduciary role as partner. Mr Sinha had worked with Omidyar Network as Managing Director in India and Omidyar Network had invested in a US company D.Light Design that has a subsidiary in Cayman Islands, according to a report based on the Paradise Papers investigation.
On joining the Union Council of Ministers, he has immediately resigned from D.Light Board and severed his involvement with the company He said, all these transactions have been fully disclosed to relevant authorities through all necessary filings as required. The Paradise Papers is an investigation into offshore and banking assets carried out by the Indian Express with the International Consortium of Investigative Journalists (ICIJ).