The disclosures of the controversial Panama papers, which have become famous overnight for taking the lid off murky financial investments by world leaders in off-shore companies,
The disclosures of the controversial Panama papers, which have become famous overnight for taking the lid off murky financial investments by world leaders in off-shore companies, have also caught Bollywood’s biggest superstar, Amitabh Bachchan, in the whirlwind. Amitabh Bachchan and his daughter-in-law, actress Aishwarya Rai Bachchan, are amongst the 500 powerful Indians that are part of the expose list.
Back in 1993, Big B was appointed as Managing Director of at least four offshore shipping companies. While the authorized capital of these companies ranged between $5,000-50,000, they traded in ships worth millions of dollars. Founding directors Umesh Sahai and David Michael Pett set up all four companies but Bachchan was appointed additional director in the very first board meeting of each company. Aishwarya, on the other hand, along with family members owned a named firm called Amic Partners Limited between 2003 and 2008 in tax haven British Virgin Islands.
Ever since the leak, Amitabh hasn’t responded to the claims, choosing to remain silent over the matter. Aishwarya’s publicist has however denied the reports saying, “What is this consortium [ICIJ] and what does it do? If this is an authorised entity, how do we know the information they get is authentic? All information that you have given is totally untrue and false.”
Needless to say, as agencies probe into the matter further, Amitabh has more to lose. The actor, one of the most trusted celebrities in the industry, wears a badge of being ‘the good Indian’ and is brand ambassador for Incredible India. Even PM Modi is among his admirers. Whether Big B denies claims or admits mistakes he has made remains to be seen but for now all we get is an eerie silence.
