Yale University utilised DTAA to invested in India

New Delhi Nov 9: The International Consortium of Investigative Journalists (ICIJ) has once brought out paradise papers - the documents to shun the light on offshore entities.

The documents reveal that how Yale University entered into India via Mauritius institute. The university took legal help from Appleby a law firm in May 2013.

Ivy League school Yale University has entered into agreements with several Indian institutions, including Jawaharlal Nehru University, University of Delhi, Ashoka University and The Energy and Resources Institute (TERI).



These investments were to be made through Singapore-based Nalanda India Equity Fund, Hong Kong and Mumbai-based Steadview Capital Management and the specially formed LTR Focus Fund, a Yale-only vehicle domiciled in Mauritius, to invest alongside the Mauritius investment vehicle used by the master fund.

The university chooses Mauritius Route because of DTAA agreement so the investment would escape Indian tax laws and no Indian or Mauritian tax will be imposed on any gain recognized by the Company upon the sale of its equity interests in the Indian companies.

Yale Response

Yale University stated beyond its own publications, the university does not share information about investments.