The Panama Papers are the 11.5 million leaked documents that were released as of April 3, 2016 and suddenly returned to the news in India after Bollywood actor Aishwarya Rai Bachchan was interviewed by the management of the application (ED) Monday.
The data was passed to a German journalist named Bastian Obermayer by an anonymous whistleblower named “John Doe”, who discovered the illegal transactions.
The company “Mossack Fonseca”, according to a study, employs around 500 Indians. Among the many names mentioned in the Panama Papers leak are Bollywood and Hollywood stars Amitabh Bachchan, Aishwarya Rai-Bachchan, Ajay Devgn, Jackie Chan and Simon Cowell.
Bachchan was a director of four shipping companies based in the British Virgin Islands and the Bahamas, according to published documents. The authorized capital of these companies ranged from $ 5,000 to $ 50,000, but they traded ships worth millions of dollars, according to the survey.
In the Panama Papers, actor Devgn was among the major shareholders of British Virgin Islands-based Marylebone Entertainment Ltd. Hassan N Sayani, a London-based investor, was the company’s largest shareholder on October 29, 2013.
Aishwarya Rai Bachchan
According to the Panama Papers, the actress attended a board meeting of Amic Partners Limited, a British Virgin Islands (BVI) company, in Dubai in June 2005, the year the company was founded. . She is also questioned about a large contribution made to her husband Abhishek Bachchan’s foreign bank account under the Liberalized Transfer Program (LRS).
Records also revealed that Hong Kong-born action star Chan has at least six companies managed by Mossack Fonseca. Holdings include companies called Jumbo Jaz Investment, Jackie Chan Ltd. and Dragon Stream Ltd.
There are reports that Southstreet Ltd. and Eaststreet Ltd. are two companies in the British Virgin Islands of which Cowell is the majority shareholder. These two companies were founded in 2007, when Cowell was preparing to buy two lots in Barbados.