Panama Leaks: Bollywood's Amitabh Bachchan and Aishwarya Rai implicated
New Delhi: Panama Papers -a 2.6 terabyte confidential leak that comprises of details of shady businesses of global elite families has named and identified at least 500 Indians, including top Bollywood actors Amitabh Bachchan and Aishwarya Rai.
The list includes Bollywood actors like Amitabh Bachchan, Aishwarya Rai Bachchan.
Amitabh Bachchan was appointed director in at least four offshore shipping companies set up in 1993 in British Virgin Islands (BVI), Bahamas.
Aishwarya Rai and her family members were registered in 2005 as directors of Amic Partners Limited.
As per Indian laws, the citizens were not allowed to set up overseas entities until 2003 as the Reserve Bank of India amended its regulations only in 2004. In addition to that, owning of or even contributing to an offshore bank account was also severely restricted before 2013.
Bachchan's name has emerged in the leaks at a time when speculation is rife that he could be considered for the post of Indian president by the ruling Bharatiya Janata Party (BJP). In India, the Bachchans are not the only high-profile individuals mentioned in the Mossack leaks, others include real-estate mogul KP Singh, industrialist Gautam Adani's brother Vinod Adani, and underworld figure Iqbal Mirchi.
This investigation, in which over 11 million tax documents have been scrutinized by over 100 media groups, comes from an anonymous source through German daily Sueddeutsche Zeitung and was shared globally by the International Consortium of Investigtative Journalists (ICIJ). In India, the organization responsible for the investigation is the Indian Express.
The documents themselves, which identify over 200,000 offshore entities covering almost 40 years, come from Panama-based law firm Mossack Fonseca, an organization with offices in more than 35 countries.
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