Ivy league school Yale University entered into a pact with offshore legal firm Appleby to invest $100 million in India from June 2013 via the Mauritius route. Yale has entered into agreements with several Indian institutions, including Jawaharlal Nehru University, University of Delhi, Ashoka University and The Energy and Resources Institute (TERI).
The Fund will obtain a tax residency certificate from the Mauritius Revenue Authority and hence, subject to fulfilling the requirements under the Indian Income Tax Act, 1961 and other applicable laws, should be able to avail of the benefit of the India-Mauritius Double Tax Avoidance Treaty (Mauritius Treaty), and other treaties as appropriate. The key advantage of the application of the Mauritius Treaty to the Fund is that 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
— source indianexpress.com 2017-11-20