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Amitabh Bachchan, Sanjay Dutt's wife named in Paradise Papers

Amitabh Bachchan, Sanjay Dutt's wife named in Paradise Papers

Bachchan had shares in a company set up in Bermuda after the first season of Kaun Banega Crorepati aired: reports
06 Nov, 2017

After the ruckus of Panama Papers, the International Consortium of Investigative Journalists (ICIJ) has brought forth the Paradise Papers, and some really notable names from Bollywood are part of it.

According to reports in Indian media, Bollywood megastar Amitabh Bachchan and Sanjay Dutt's wife Manyata Dutt are among the 714 Indians named in the tally. Paradise Papers consists of 13.4 million files from “a combination of offshore service providers and the company registries of some of the world’s most secretive countries”.

The documents include loan agreements, financial statements, emails, trust deeds and other paperwork from Appleby, a leading offshore law firm with offices in Bermuda, as well as files from a smaller trust company, Asiaciti.

Indian media reported Bachchan Sr. had shares in a digital media company called Jalva Media Ltd, set up in Bermuda in July 2000 after the first season of Kaun Banega Crorepati came out. The company shut down in 2005 and it remains unclear whether Big B declared his shareholdings to Reserve Bank of India, required by the country's law at the time.

There has yet to be a statement issued by Bachchan on the issue.

As far as Dutt is concerned, Indian Express reports that documents in the Bahamas registry show that Manyata Dutt was appointed Director, Managing Director, President and Treasurer of Nasjay Company Limited, which was set up in the Bahamas in April 2010. She appended her signature to the agreements, and her address appears as Bandra West, Mumbai. The 2010 capital of the company is shown as $ 5,000.

A spokesperson for Manyata Dutt ─ who held several positions in the Bahamas-registered firm Nasjay Company Ltd ─ has issued a statement saying "all properties, company or body corporate or shares in any company are declared in the balance sheet."

Comments

Syed Ahmed Nov 06, 2017 03:01pm
Depending on where you live, it may not necessarily be illegal to hold shares in offshore companies. Most of companies listed on the Main Board of the Hong Kong Stock Exchange are incorporated in Bermuda, BVI or other tax heavens.
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sach Nov 06, 2017 04:55pm
@Syed Ahmed Yes I agree. Legally it is possible to buy properties abroad, have shareholding in companies abroad, set up a company abroad.
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Kailash Singh Nov 08, 2017 01:58pm
Mr. Bachchan's name has been dragged in scandals several times but he has never been held guilty. Till today he has been a hero, both in reel life as well as real life.
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gopal Nov 08, 2017 02:40pm
@sach Everything is legal, provided they are declared in the tax returns.
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ajay Nov 10, 2017 03:24am
Pakistan is the only country took action after panama papers.....otherwise all countries are just talking.. bravo pakistan
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