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Panama Papers leak: After Bachchans, Ajay Devgan's name surfaces

New Delhi: After Bollywood bigwigs Amitabh Bachchan and Aishwarya Rai Bachchan, now the name of national award winning actor Ajay Devagan's name has emerged in the controversial Panama Papers leak. Devgn is said to have

India TV News Desk India TV News Desk
Updated on: May 05, 2016 10:50 IST
Ajay Devgan
Image Source : PTI Ajay Devgan

New Delhi: After Bollywood bigwigs Amitabh Bachchan and Aishwarya Rai Bachchan, now the name of national award winning actor Ajay Devgan's has emerged in the controversial Panama Papers leak.

Devgan is said to have bought 1000 shares of a British Virgin Islands company, Marylebone Entertainment Ltd.in 2013, claiming it was done to acquire and exploit overseas rights of Hindi films, according to an Indian Express report.

The report further claims that the actor bought the shares in the name of his company Nysa Yug Entertainment, which he owns with his wife Kajol.

Hassan N Sayani, a London-based individual, was the original shareholder of the company.

The actor has admitted to holding the said overseas account saying he has made the proper disclosure.

“This company was set up with RBI guidelines for overseas direct investment route. Proper disclosures have been made by my family in the tax returns as required by law.” Ajay Devgan told The Indian Express

The Panama Papers is a trove of 2.6TB of documents from the one of the world's largest offshore law firms, Mossack Fonseca. The dump of over 11 million files containing detailed financial information on 214,000 companies illustrates how offshore tax havens are exploited.

Earlier, actor Amitabh bachchan and Aishwarya Rai faced a lot of flak after their names emerged in Panama Papers leak wherein they were accused of holding offshore accounts and being actively involved in the proceedings of those companies through video-conferences.

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