EXPLAINED: Why the Paradise Papers matterAppleby records show that when Platex was raising funds from lenders, Potluri entered into a guarantee agreement with the offshore entity. Its annual report for the year lists four wholly-owned subsidiaries — PVP Corporate Parks Pvt Ltd, PVP Global Ventures Pvt Ltd, PVP Media Ventures Pvt Ltd and Safetrunk Services Pvt Ltd. Was Platex Ltd, a company incorporated in Mauritius used as a vehicle to invest in PVP Ventures Ltd? Subsequently, issued FCD’s were converted as mentioned below to equity shares of PVP Ventures Ltd2. Are AMB India Investments LLC and Spinnaker Capital LLC the new lenders (with the $258 million facility now being transferred to them)?

Source: Indian Express November 10, 2017 00:31 UTC