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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February 26,2020

Mangaluru, Feb 26: The 'Yakshagana' stage in Karnataka is witnessing a curious spectacle with a Muslim woman artiste creating waves with her performances.

Arshiya, the artiste from Vittal in Dakshina Kannada district, is the first woman from the Muslim community to venture into the popular traditional theatre art form.

At one time, women were barred from Yakshagana stages.

A Muslim woman exponent on stage has attracted the attention of 'Yakshagana' lovers in the state.

Arshiya is now getting advanced training in her skills at the Kadali Kala Kendra under Ramesh Bhat here.

Arshiya, who is fond of 'Bannada Vesha' (villain roles), is now known in her stage name 'Tanu Vitla.'

She has already performed various episodes on stage and gained popularity.

Arshiya, currently working in an automobile showroom at Padil, said she was attracted to the art form from a very young age.

The initial enchantment with the art form came as she saw the role of Mahishasura in 'Sri Devi Mahatme Yakshagana Prasanga' (episode) performed near her home town.

She was attracted to all the elements of the art form, which combines music, percussion, dance, dialogues, stage techniques, make-up and costume.

Arshiya said she was also inspired by a teacher in her school at Vittal who trained her for a performance on stage during the school's annual day celebration.

She started performing on local stages at Vittal at the very young age of 10.

Arshiya now performs prominent roles on stage including Mahishasura in Sri Devi Mahatme Prasanga, the role which enamoured her in her childhood.

She also has donned the roles of Nishambhasura, Rakthabeejasura, Srinivas Kalyana, Sudarshanopakyana, Kadamba Kaushike and Shambavi Vijaya.

Her performances at Udupi and Karwar besides Mangaluru have earned her a lot of admirers, who love her 'Asura' roles, thanks to her loud voice.

Arshiya now wants to learn the 'Chende' (percussion instrument), which is an important element in Yakshagana performances.

Arshiya revealed that there was a bit of resistance from her community about her passion for the art form, but she had staunch backing of her family.

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February 5,2020

Bengaluru, Feb 5: Karnataka Home Minister Basavaraj Bommai on Tuesday said that he has demanded a report on the Shaheen School incident after reports emerged that children were allegedly interrogated by the police for hours at a stretch, while not allowing parents to be present.

Terming the incident a very sensitive matter as it involves children, Basavaraj Bommai said, "I have asked for a report on the Shaheen School incident. As it is a very sensitive and serious issue, I have asked the police to handle it carefully."

"I have asked the police to take the help of the women and child protection committee at the district level. However, I have been told that the police had visited the area where the play was done and no interrogation of children in isolation took place. Nevertheless, I have asked the police to handle the issue with care and do everything within the law," Basavaraj added.

The matter pertains to a programme organised as a part of the Republic day celebrations where the children in Shaheen School in Bidar had staged a play against the Citizenship Amendment Act (CAA) and National Register of Citizens (NRC).

The Akhil Bharatiya Vidyarthi Parishad (ABVP) had protested alleging that the play at Shaheen School in Bidar was derogatory. In the play, the participants were shown staging an anti-CAA sequence where there were dialogues encouraging non-cooperation with anyone asking for documents. A case was registered against the school management.

Meanwhile, CEO of Shaheen Education Institute, Bidar, Tauseef Madikeri had said, "Police have invoked Sections 124A, 505 and 504 of the IPC against the institution, over a play staged against CAA and NRC. It is beyond anyone's imagination. Deputy SP visited the classroom and interrogated the students."

Karnataka police had sealed the offices of the school after its students participated in the play. Meanwhile, the police had questioned students of Shaheen School after a play against the CAA and NRC was staged during the Republic Day celebrations.

The child rights groups, teachers and educationists had issued a statement condemning the police interrogation in the incident.

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February 24,2020

Bengaluru, Feb 24: Census authorities in Karnataka have requested deputy commissioners in the state’s districts to hold outreach and awareness campaigns about the National Population Register (NPR), as they fear misgivings about the exercise could hurt the forthcoming enumeration of population.

The house-listing phase of the Census and updating of NPR will be rolled out simultaneously by mid-April in the BJP-ruled state.

About 1,50,000 enumerators will handle the massive exercise.

Officials believe widespread awareness will help address concerns about the NPR data-gathering process and make people cooperate with enumerators when they visit houses for both NPR and census work.

“Sensing the kind of questions that enumerators may face when they do house visits, in all video conferences with deputy commissioners of districts, we have requested to establish contact with local representatives,” SB Vijay Kumar, director of Census Operations in Karnataka told news agency. “We have asked them to organise outreach programmes to ensure that people’s doubts are resolved before the information gathering work begins,” he added.

Census operations are handled by the Union home ministry. Several district officials are said to have raised concerns about the possibility of people refusing to share information when the work on the census and NPR begins in two months. This would affect the quality of the census work, making the exercise incomplete.

news channel earlier reported that people in parts of Karnataka had declined to share personal information with officials visiting households in connection with government programmes, suspecting them of gathering data for the yet-to-be unveiled National Register of Citizens, following enactment of the Citizenship Amendment Act (CAA) recently.

Kumar said district authorities will train and sensitise enumerators to tread carefully while gathering information. Enumerators will be told not to demand information but seek it gently.

“We will tell enumerators to proactively engage with people. For instance, if an old man in a village does not know his exact date or place of birth, the enumerator may engage in a conversation with the person that may elicit some anecdotes and roughly establish the year and the place of birth,” the census director said.

As of now, the NPR questionnaire has 21queries, but officials say it has not yet been finalised.

With most of the census and NPR data gathering and storage happening digitally this time, the challenge before census officials is to convince people that the data would remain safe.

“Individual data is sealed and all that we can see is collective data. The information is consolidated and tailor-made. We are telling district officials to create awareness about data safety as well,” Kumar said.

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