Panama Papers: Amitabh Bachchan breaks silence over tax evasion scandal

The Panama Papers, which are being described as the biggest leak in history, feature over 500 Indians linked to offshore firms, reported The Indian Express, whose team was part of the eight-month long investigation spearheaded by the International Consortium of Investigative Journalists (ICIJ).

Many have claimed that their investments were legal, while others have maintained silence. Not Big B though. Amitabh Bachchan whose name was also in the list claims that there's a possibility that his name was misused.

According to the leaked documents, the Bollywood legend was appointed director of at least four shipping companies registered in offshore tax havens set up 23 years ago.

Here is what Mr.Bachchan had to say about the controversy:

"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."

"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."

The Indian Express also reported that Aishwarya Rai and her family were appointed as directors of a company incorporated in the British Virgin Islands in 2005, which was dissolved in 2008.

A media adviser to Ms Rai has told the newspaper that "all information that you have is totally untrue and false."