Nirav Modi's UK auditors linked to Panama Papers

By

Isabelle Crossley

Published
Jun 25, 2018

Nirav Modi’s UK-based business’ latest auditors were named in the Panama Papers, an investigation by the Times of India revealed.

The most recent set of accounts for the UK  showed insolvency, a lack of assets, and a debt of £8,717,074 (Rs 78 crore) to creditors.

The auditing company, Harrow-based Dattani Chartered Accountants, is the intermediary company for 53 firms named in the Panama Papers, according to information from the offshore leaks database managed by the International Consortium of Investigative Journalists, the Times of India reported.

Owner and founder of Dattani Chartered Accountants, Nitin Dattani, told the Times of India: "This link between us and the Panama Papers is a mistake. We have not acted as an intermediary for any company mentioned in the Panama Papers. We may have done their tax returns but we were not involved in establishing them. I have written to the concerned people to complain," he stated.

Dattani Chartered Accountants was the registered office of Nirav Modi Limited in the UK until March 29, 2018. After this, the address was changed to Modi’s jewellery shop in Mayfair, London.