Indian passport holders obtained “Golden Passports” from Cyprus in violation of Article 9 of the Constitution- Prosecute them under the relevant lawsToShri A K BhallaUnion Home SecretaryDear Shri Bhalla,The Indian Express has recently conducted a comprehensive investigation into a scandal involving a number of Indian citizens who obtained “Golden Passports” from the Cyprus government around 2017-18 by making investments under a special scheme offered by that country. The investments made by many of them apparently involved illicit wealth accumulated from their businesses in India, taking advantage of the existing regulatory loopholes and inadequate regulatory oversight. The relevant Indian Express report (IER) is accessible at https://indianexpress.com/article/express-exclusive/from-down-under-to-switzerland-via-dubai-pankaj-oswal-wife-hit-a-hurdle-in-cyprus-9028349/According to the IER cited above, there are at least 66 persons of Indian origin, involved in domestic business operations, who obtained Golden Passports from Cyprus. Many among them may be carrying valid Indian passports, as evident from the following portion of that news report. An investigation should also be instituted as to whether some individuals in India and regulatory authorities connived with them in this.

Source: Indian Express November 16, 2023 08:41 UTC