Yesterday the media went into a tizzy with the report alleging Amitabh Bachchan and Aishwarya Rai Bachchan featuring in the list of people with sizeable investments in off shore accounts and firms. Well now a day later, the legendary actor has released a statement denying his involvement in any of the companies listed in the earlier reports.
"I do not know any of the companies referred to by 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."
For the uninitiated, a leading newspaper had uncovered a leak of 11.5 million tax documents resulting in the exposure of the secret offshore dealings of renowned sports persons, world leaders, businessmen like DLF owner KP Singh, Pakistan Prime Minister Nawaz Sharif, and Bollywood celebrities including Amitabh Bachchan and Aishwarya Rai Bachchan. As per the report that has been published in the newspaper, even though the Reserve Bank of India (RBI) BI had allowed individuals to remit funds up to $25,000 a year under LRS (Liberalised Remittance Scheme), it never allowed Indian citizen to set up companies abroad. Amitabh Bachchan (in the year 1993), had been appointed as the 'Director' in at least four offshore shipping companies, of which one was in the BVI and the rest three were in the Bahamas.
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