Days after Missionaries of Charity had revealed that its FCRA renewal application was rejected for not meeting eligibility conditions as per rules, it has been found that the Christian evangelist organisation has been large amounts of money from a company based in tax haven Panama. Of the total ₹75 crores received as donations from foreign donors, more than 17% came from this mysterious company with links to companies named in Pandora papers.
Social media user named The Hawk Eye made the revelation on Twitter today, after going through the FCRA returns filed by Missionaries of Charity available on the FCRA website. As per the 76-page return filed by the NGO, it had received ₹75,19,03,116.67 from foreign sources in the financial year 2020-21 from 406 donors, including 347 individuals and 59 institutions.
Among the donors, Missionaries of Charity in USA made the highest contribution of ₹44.19 crore in eight donations. However, the second-highest contributor for 2020-21 is a surprise, as it is Kriti Finance SA which donated a whopping ₹13,52,88,290.00 during the year. This is an asset management company based in Panama City in Panama.
When The Haw Eye looked into the past FCRA returns of the NGO, it was found that another Panama based entity Simi Foundation has been donating large amounts of money to MOC. And the address of Simi Foundation is given as C/o Kriti Finance, which means Simi Foundation is directly linked with Kriti Finance. From 2016-17 to 2020-21, around ₹32 crore has been routed from these Panama based entities to Missionaries of Charity.
While analyzing this freaking 76pg high-magnitude FCRA report, I found something catchy. Out of 75Cr (FY20-21), MoC, India has received 44Cr from MoC, USA. Usually, u may see names of other NGO/corporate as donors. However, 2nd highest donor (13.5Cr) here is Kriti Finance SA,
— The Hawk Eye (@thehawkeyex) December 29, 2021
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As Panama is known to be tax heaven, and little is known about this Kriti Finance, this raises questions on the source of funds that MOC received. It is almost certain that some other entities/individuals has routed the money using the Panama firm to Missionaries of Charity in India, and further probe is needed to reveal the actual source of this huge donation.
Interestingly, Kriti Finance SA’s Director and President is one Edgardo E. Diaz, who was named in the Pandora papers. Edgardo E. Diaz is also a Director and President in another Panama based company Barrymil Investments SA. Recently it was revealed that Wockhardt chairman Habil Fakhruddin Khorakiwala had incorporated this firm, and he and his family members hold shares in this offshore entity.
According to the Hawk Eye, Edgardo and two other directors of Barrymil are also directors of another Panama based company Furwood Investment, and all these entities are managed by the same law firm, Alemen, Cordero, Galindo & Lee.
Hawk Eye also questioned why this important link of Missionaries of Charity with the Panama based firm was not highlighted by media, especially Indian Express which had published the Pandora papers in India.
