Massive tax evasion: Amitabh, Aishwarya among 500 Indians with hidden assets

April 4, 2016

New Delhi, Apr 4: The names of actors Amitabh Bachchan and Aishwarya Rai Bachchan, real estate tycoon KP Singh and late gangster Iqbal Mirchi figured in a list of over 500 Indians who allegedly used a law firm in Panama to set up offshore entities in tax havens across the world, a newspaper reported on Monday.

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The Indian Express said a study of more than 11 million documents from the secret files of Mossack Fonseca, the Panama law firm, showed that Indians possibly violated tax rules or masked ownership of firms they allegedly set up abroad.

The newspaper claimed that while Aishwarya Rai was a shareholder of a firm in the British Virgin Islands, her father-in-law – superstar Amitabh Bachchan – was the director of four shipping companies in the Bahamas. It said Indiabulls owner Sameer Gahlaut acquired “three top London properties” via “entities” in the Bahamas and Jersey, and DLF promoter KP Singh and his family owned firms in the British Virgin Islands.

The promoters of Apollo Tyres, business tycoon Gautam Adani's elder brother Vinod Adani, West Bengal politician Shishir Bajoria and former Loksatta Party leader Anurag Kejriwal were some other Indians named in the newspaper report.

Until 2003, Reserve Bank of India (RBI) norms did not allow an Indian citizen to set up an overseas entity. In 2004, resident Indians were allowed to remit funds of up to $25,000 a year under the Liberalised Remittance Scheme (LRS) – the limit of which stands at $250,000 a year now.

The media claimed that while RBI let individuals buy shares under LRS, it never permitted them to set up companies abroad. The Mossack Fonseca documents allegedly show companies were set up long before the rules were changed, and the purpose may have been to park foreign exchange in a tax haven.

Individuals named in the newspaper report were yet to comment, and government officials were expected to respond later. The report in the Indian Express formed part of an investigation by an international coalition of media outlets into the offshore financial dealings of the rich and famous, based on a vast trove of documents provided by an anonymous source.

The International Consortium of Investigative Journalism, a non-profit organisation based in Washington, said the cache of 11.5 million records detailed the offshore holdings of a dozen present and former world leaders, besides businessmen, criminals, celebrities and sports stars. Political figures from Iceland, Ukraine, Pakistan, Saudi Arabia, Russia and Argentina were named in the reports.

Hindustan Times wasn't immediately able to verify the allegations made in the articles that were published by over 100 news organisations across the world.

Comments

Sameer Kandak
 - 
Tuesday, 5 Apr 2016

It's better to appoint ABC as brand ambassador of Hidden asset projects

Rikaz
 - 
Monday, 4 Apr 2016

Its brand ambassador's way of doing business.....he is roll model...people should follow him...if you have excess money go and do your business out side India....avoid taxes.....Amitabh is saying this...literally...

Abufarhan
 - 
Monday, 4 Apr 2016

Unfortunately Amitbh is a next presidential candidate of Feku's party

Abufarhan
 - 
Monday, 4 Apr 2016

Unfortunately Amitabh is next presidential candidate of Feku's party.

KhasaiKhaane
 - 
Monday, 4 Apr 2016

Remembering the days when #MoNa used to say -
\Congress wale Kala dhan lane se darthe hain.. NDA Kala Dhan wapas Layenge..\"
\" 15 Lakh, har ek ke account me...\"
and hearing all this
#Bhakts got an orgasm, - #MoZi MOZi MOzi,,...
LOL...!!"

Swetha
 - 
Monday, 4 Apr 2016

Hidden Assets ohh god, without any doubt crore,million,billion will be there.

Prem Sagar
 - 
Monday, 4 Apr 2016

less shocking more knowing.

Nihal
 - 
Monday, 4 Apr 2016

Someone had suggested Big B's name for the post of India's next president. And i heard he was also dreaming for the post!

Neeraj Dumb
 - 
Monday, 4 Apr 2016

Oh. That's y this amithab started doing 'bhaktgiri' these days.

Lobo
 - 
Monday, 4 Apr 2016

Shame on you. And you call yourselves nationalists. ugly creatures. liars.

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News Network
June 21,2020

Mangaluru, June 21: A gang of miscreants intercepted a goods auto-rickshaw which was legally transporting beef from an abattoir to market and attacked its driver in heart of the city this morning. 

The attack comes exactly a week after a gang of Bajrang Dal miscreants thrashed a cattle trader at Urwa while legally transporting four buffalos to Kudroli abattoir on June 13.

Today, a person identified as Abdul Rasheed was transporting around 200 kilograms of beef from Kudroli abattoir to Kankanady market.

Meanwhile, miscreants began to chase beef laden vehicle and managed to waylay it near Highland Hospital. They thrashed Abdul Rasheed and poured kerosene on the beef besides damaging the vehicle. 

The miscreants fled in their car and motorbikes after passersby began to gather. 

Comments

Gopitha
 - 
Monday, 22 Jun 2020

one day snake must come out from rat hole...that day we will wait

abdullah
 - 
Sunday, 21 Jun 2020

Dear DC Dr. Harsha, we want to know if you will take strict action on these anti nationals / rowdis / day robbers / terrorists who ransacked auto + beaten the auto driwer and stolen Rs. 10,000 from him though he was legally transporting the meat.   They same terrorists are involved in transporting live animals to beef export houses in Gujrat owned by Brahmins / Jains.   Will you be loyal to your duty and promise.   We will see how you will handle the issue failing which you will lose our respect and we will consider you as a dramabaz and phenku.   You should follow the law and treat everyone equally.  There should not be any pity on goondas/ terrorists belonging to sangh parivar.   The terrorists who thrashed the auto driver and damaged the auto and burnt the meat by pouring kerosene are not human beings and should be treated as anti nationals + terrorists.    We hope you will discharge your duty as per the oath taken by you while accepting your post.  

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News Network
January 29,2020

Bengaluru, Jan 29: Ramesh Jarkiholi on Tuesday demanded that he and all the newly elected MLAs, who won the bypolls after defecting from the Congress and JD(S), be inducted into the cabinet — likely on January 31 — as promised by chief minister BS Yediyurappa.

"We are hoping all 11 MLAs will be made ministers," Jarkiholi said. "That is what the BJP and the CM promised us and we hope they will keep their promise." This is the first time Jarkiholi has spoken in public on cabinet berths, ever since reports surfaced of the party high command not being in favour of inducting all the turncoats into the council of ministers.

Jarkiholi also said fellow rebel AH Vishwanath should be given a ministerial berth.

Vishwanath, formerly of the JD(S), had lost the bypolls. Jarkiholi said the rebellion would not have succeeded had it not been for Vishwanath.

"Those of us who rebelled against the JD(S)-Congress coalition government got a shot in the arm when Vishwanath supported us," Jarkiholi said. "It is imperative that we support him," he said, even as he sought to distance himself from comments made by newly-elected MLAs ST Somashekar and D Sudhakar, who said Vishwanath cannot demand a ministerial post.

Meanwhile, the BJP issued another deadline — January 31 — to expand the cabinet. "In all likelihood, cabinet expansion will take place on Friday," said an aspirant for a berth. But several BJP functionaries are skeptical of meeting the new deadline.

"Till now, the CM has not been given the green signal by the high command. This is all I can say," said a senior minister in Yediyurappa’s cabinet, while insisting he wouldn’t be surprised if the exercise was postponed till the Delhi elections are over.

Former minister and independent R Shankar, who along with Mahesh Kumatalli and Shrimant Patil accompanied Jarkiholi to a trip to Nanjangud, Mysuru district, has upped the pressure on Yediyurappa to field him in the bypoll to the lone vacant council seat. "I am confident the CM and the BJP will honour promises made to me," Shankar said.

The former minister had joined the BJP during the rebellion, but was not given a ticket to contest the bypolls.

In Chikkamagaluru, deputy chief minister Govind M Karjol insisted he is prepared to step down if needed to enable new entrants into the cabinet. "I’m a disciplined solider of the party. If the BJP directs me to submit my resignation, I will do so and return my official car and take a bus to Bengaluru," Karjol said. He said anyone who doesn’t respect the party line will not grow. "It is imperative to toe the party line," he said.

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News Network
August 3,2020

Bengaluru, Aug 3: A building of Bengaluru's civic body, Bruhat Bengaluru Mahanagara Palike (BBMP), on Broadway Road in Shivajinagar, is being developed into a COVID dedicated hospital with 200 beds, Karnataka Medical Education Minister K Sudhakar said on Sunday.

The hospital will be functional in two weeks, said Sudhakar.

"BBMP building in Broadway Road is converted into Covid hospital. Setting up of infrastructure like beds, ventilators, oxygen etc is underway.

All necessary staff for this hospital including doctors, nurses and paramedical staff have been already deployed and the work is on fast track," Sudhakar tweeted.

He also thanked Infosys foundation and it's Chairperson Sudha Murthy for immediately responding to government's request and providing infrastructure for this hospital.

In a tweet, Sudhakar thanked the doctors for their service to combat COVID-19 in the state.
"These doctors have extended helping hand in these corona times without any expectations. I salute their spirit of service and professionalism," Minister said in a tweet.

According to the Union Health Ministry, there are 1,34,819 COVID-19 cases in the state. 

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