Over 11.5 million documents dubbed as Panama Papers leaked from Mossack Fonseca, a Panama based law firm revealed how the well-heeled billionaires across the world were hiding their money offshores in shell companies located in tax havens.
The Panama Papers’ Indian connection was probed and published by the Indian newspaper The Indian Express which revealed the names of some of India’s richest and wealthiest individuals who were named in these papers.
Some of these names are Bollywood superstar Amitabh Bachchan and his daughter-in-law Aishwarya Rai, former Solicitor General of India, Harish Salve, real estate baron KP Singh and several others.
The report alleges that Amitabh Bachchan was the appointed director of four shipping companies registered in offshore tax havens set up 23 years ago.
The superstar who was recently conferred the National Award and is also the recipient of India’s second highest civilian honour, Padma Vibhushan has finally broken his silence and issued a statement clarifying his stance in the controversy.
Big B's official statement reads, "I do not know any of the companies referred to by Indian Express - Sea Bulk Shipping Company Ltd, Lady Shipping Ltd, Treasure Shipping Ltd, and Tramp Shipping Ltd. I have never been a director of any of the above stated companies. It is possible that my name has been misused. I have paid all my taxes including on monies spent by me overseas. Monies that I have remitted overseas have been in compliance with law, including remittances through LRS, after paying Indian taxes. In any event the news report in Indian Express does not even suggest any illegality on my part."
