HealthifyMe’s holding company is linked to Putin’s former aide’s fund



Singapore’s HealthifyMe Pvt.Ltd, the retaining agency of startup HealthifyMe, is related to Lang Capital Fund owned through a former aide of Russian President Vladimir Putin, a mega unload of leaked monetary files has revealed. Tushar Vashisht, son of former Haryana DGP Shriniwas Vashisht, installation HealthifyMe Wellness Private Limited (HWPL) that runs an AI-primarily based totally fitness and health platform in India through his Singapore-primarily based totally firm, stated a record in The Indian Express stated, mentioning the so-known as Pandora Papers.

These leaked files purportedly screen offshore transactions of the wealthy and the powerful. Records of AsiaCiti Trust, that’s a Singapore-primarily based totally offshore provider, display that the organisation is connected to Lang Capital Fund (LCF) owned through Kirill Androsov, a former deputy leader of the body of workers to Putin. The Pandora Papers have unearthed the activities of AsiaCiti Trust and different such offshore providers and their customers.  As of March 31, 2020,

Vashisht held 10 stocks within the fitness and health startup even as 2,43,318 stocks had been held via way of means of HWPL, the record stated, mentioning Registrar of Companies (RoC) files. The Pandora Papers research through the booklet suggests that questions have been raised approximately a number of LCF transactions, along with the ones regarding HealthifyMe.A “compliance record” of AsiaCiti Trust dated February 27, 2018 flagged as “excessive risk” as a minimum 4 transactions made at some point of 2017-18 to their “PEP-associated structure”, a  connection with politically uncovered person. AsiaCiti Trust Singapore Pvt Ltd is a trustee of LCF, even as Atlas Asset Management Pvt Ltd is its funding manager. Samoa-primarily based totally Grand Asset Investment Ltd is the only proprietor of LCF,

The document added. Of the flagged transactions linked to HealthifyMe became a price made “for the subscription of 122,066 Series B2 Compulsorily Convertible and Non-Cumulative Preference Shares within the capital of HealthifyMe Pte Ltd”, the document stated. Pawan Agrawal, Vice-President (Finance) at HWPL, informed the Indian Express they’re now no longer privy to it.According to a “criminal due diligence list” from November 2017, Vashisht is the promoter director of the retaining business enterprise but “information of the shareholding and directorship within the conserving employer has now no longer been disclosed to the board of administrators of the Company (HealthifyMe Wellness Products and Services Private Limited) through Form MBP-1” for the monetary years 2015-2016, 2016-2017 and 2017-2018.

 “As consistent with phase 184 of the Act examine with Rule nine of the Companies (Management and Administration) Rules, 2014, each director is needed to reveal his challenge or interest, consisting of shareholding, in any organization, organizations or our bodies corporate, firms, different affiliation of individuals, at the primary board assembly of each monetary year,” it stated.Agrawal mentioned that the “Board of Directors of HealthifyMe Wellness Private Limited, India are absolutely privy to this fact”.“We were obvious to the tax authorities,” he stated to a query if those pursuits have been declared to Indian authorities. HealthifyMe Wellness Private Limited recorded a turnover of Rs 54.52 crore on March 31, 2020.



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