Amitabh Bachchan - the Time Magazine Star of the Millenium, his daughter-in-law Aishwarya Rai and another actor Ajay Devgan are being investigated under the Foreign Exchange Management Act as their names figure in the leaked Panama Papers.
New Delhi (Sputnik) — Indian film stars, Amitabh Bachchan, Aishwarya Rai and Ajay Devgan have come under the scrutiny of law enforcement agencies in the country for alleged irregularities linked to the mention of their names in the Panama Papers case.
Amitabh Bachchan and Aishwarya Rai submitted documents in connection with the probe of the case on Wednesday with the Enforcement Directorate (ED), the economic offense investigation wing of the government of India which primarily deals with money laundering.
Sources in the Indian Finance Ministry have revealed that the income tax department of the country has initiated a total of 33 investigations in connection with the names revealed in the Panama Papers and several others are in the offing. It is noteworthy that, the Prime Minister of Pakistan Nawaz Sharif had to resign from his post owing to the revelations in the Panama Papers.
The Panama Paper leaks contained data from 210,000 offshore companies incorporated by a law firm Mossack Fonseca in Panama.
These leaks alleged that Amitabh Bachchan was chairman of at least four offshore shipping companies created in 1993 in tax havens. Of the four companies, one was reported to be in the British Virgin Islands and three were in the Bahamas. The companies in question were Sea Bulk Shipping Company Ltd, Lady Shipping Ltd, Treasure Shipping Ltd, and Tramp Shipping Ltd. Amitabh Bachchan has denied the allegations.
The Panama Papers were leaked by the International Consortium of Investigative Journalists in 2016 and named several world leaders and celebrities who had allegedly siphoned off money abroad in offshore companies.
The fact of registration and authorization of users on Sputnik websites via users’ account or accounts on social networks indicates acceptance of these rules.
Users are obliged abide by national and international laws. Users are obliged to speak respectfully to the other participants in the discussion, readers and individuals referenced in the posts.
The websites’ administration has the right to delete comments made in languages other than the language of the majority of the websites’ content.
In all language versions of the sputniknews.com websites any comments posted can be edited.
A user comment will be deleted if it:
does not correspond with the subject of the post;
promotes hatred and discrimination on racial, ethnic, sexual, religious or social basis or violates the rights of minorities;
violates the rights of minors, causing them harm in any form, including moral damage;
contains ideas of extremist nature or calls for other illegal activities;
contains insults, threats to other users, individuals or specific organizations, denigrates dignity or undermines business reputations;
contains insults or messages expressing disrespect to Sputnik;
violates privacy, distributes personal data of third parties without their consent or violates privacy of correspondence;
describes or references scenes of violence, cruelty to animals;
contains information about methods of suicide, incites to commit suicide;
pursues commercial objectives, contains improper advertising, unlawful political advertisement or links to other online resources containing such information;
promotes products or services of third parties without proper authorization;
contains offensive language or profanity and its derivatives, as well as hints of the use of lexical items falling within this definition;
contains spam, advertises spamming, mass mailing services and promotes get-rich-quick schemes;
promotes the use of narcotic / psychotropic substances, provides information on their production and use;
contains links to viruses and malicious software;
is part of an organized action involving large volumes of comments with identical or similar content ("flash mob");
“floods” the discussion thread with a large number of incoherent or irrelevant messages;
violates etiquette, exhibiting any form of aggressive, humiliating or abusive behavior ("trolling");
doesn’t follow standard rules of the English language, for example, is typed fully or mostly in capital letters or isn’t broken down into sentences.
The administration has the right to block a user’s access to the page or delete a user’s account without notice if the user is in violation of these rules or if behavior indicating said violation is detected.