Reportage > Treasure Island
  • Kamal Hawabhay

    Paranjoy Guha Thakurta and Jyotirmoy Chaudhuri, it is unfortunate that your long diatribe is complete with half truths and wrong information otherwise I could have enjoyed reading you. I invite you to attempt to open a company in Mauritius. Your eyes will open wide at the extent of due diligence that will be required of you and you will witness the time taken to obtain a license. I hope that you know what types of company get benefit under the tax treaties!! In case your researcher colleague did not inform you, the identity of all immediate and ultimate beneficial owners are always available and provided to the regulator and available on request by India. In such case, how do you justify your comment about anonymous Indian routing money into India?

    You have the misconception that only Indians or NRIs invest in India through Mauritius. Majority of investors are institutional investors. You need to stop believing that Indian and NRIs are the navel of the world!

    Treaty shopping is the use of treaties that gives the most benefits to an investor. Don’t you go shopping for best price , benefits and services? If you do then according to your logic you are committing a crime! If India wants to ban treaty shopping, India knows what to do, not so? I fail though to understand why Indian like you cannot understand that your country needs FDI and if it’s coming through Mauritius, what the big deal? Yes, if the money coming through Mauritius is bad, I grant you your worry. However why do you beleive that FII or FDI money through Mauritius is bad by definition? India is an attractive destination for investment and the world is investing in and they get more comfort doing so through Mauritius than having to face the administrative and legal hassles in India…so why should everything necessaily be painted black?

    No tangible proof of wrong doing is available in your hands, isn’t it or is there? If so, present it and if not hold your peace!

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