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Amitabh Bachchan, Aishwarya Rai in Panama papers Black Money list

Panama papers recently revealed hidden Black money of more than 500 Indians which include Amitabh Bachchan and Aishwarya Rai Bachchan on the list along with Kushal Pal Singh. A huge data leak from a law firm in Panama suggesting it hid billions of dollars in assets of global politicians, sports stars and entertainers threatened to dramatically boost the country’s reputation as an offshore haven for money laundering. These are secret documents of firms belongings to global and Indian power-figures parking money in the tax haven.

According to a report in the Indian Express, more than 11 million documents from the secret files of Mossack Fonseca, a law firm headquartered in tax haven Panama, known for its factory-like production of offshore companies for its worldwide clientele of the well-heeled.

More than 500 Indians figure on the firm’s list of offshore companies, foundations and trusts, besides 234 Indian passports handed over by clients as part of the incorporation process. The list has names of big personalities such as film stars Amitabh Bachchan and Aishwarya Rai Bachchan to corporates including DLF owner Kushal Pal Singh and nine members of his family, and the promoters of Apollo Tyres and Indiabulls to Gautam Adani’s elder brother Vinod Adani. Two politicians who figure on the list are Shishir Bajoria from West Bengal and Anurag Kejriwal, the former chief of the Delhi unit of Loksatta Party, the report said. Further, the name of Mumbai ganglord the late Iqbal Mirchi was also part of the list.

However, just the appearance of names of Amitabh Bachchan & Aishwarya Rai Bachchan in the hidden wealth in tax have create quite a buzz.

Cover Image – Asian Journal

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