Offshore accounts naturally do not indicate illegality

Big B responds Never been director of companies named in Panama Papers
news Panama Papers Tuesday, April 05, 2016 - 18:54

A day after The Indian Express named Amitabh Bachchan as one of the 500 Indians featuring in the infamous ‘Panama Papers’, the veteran actor on Tuesday came up with a reply.

"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," the actor said through a release.

It was widely reported on Monday how in a massive leak followed by a large effort in investigative journalism, more than 11 million documents from law firm Mossack Fonseca have been put out in public domain, with high-profile names from Russian President Vladimir Putin's inner circle to the family of Pakistan's prime minister cropping up. 

The latest list, after similar ones came in the the past like 'Swiss leaks' and the HSBC-list related to Indians, claims it has sourced data in connection to millions of documents which show heads of state, criminals and celebrities using "secret hideaways" in tax haven country of Panama. 

Show us some love and support our journalism by becoming a TNM Member - Click here.