The recent Panama Papers have caused quite a stir around the world and even become the cause for Iceland’s Prime Minister to resign. The names of five hundred Indians have also surfaced, who have bank accounts, foreign properties or own off-shore companies in tax havens. Among them is also Amitabh Bachchan’s name, who has denied any linkages to the names of the companies that have been mentioned.
“I do not know any of the companies referred to by The 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,” he said.
“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,” he said.
Seems like there might actually be some truth to what the senior Bachchan says since he has vehemently denied the claims against himself.
The Panama Papers’ controversy has also driven many Heads of States around the world on the back foot, especially Pakistani Prime Minister Nawaz Sharif, British Prime Minister David Cameron and Russian President Vladmir Putin.