Many politicians and Celebrities were shaken by Panama papers exposing their assets at abroad. The stars involed in this are Amitabh Bachchan, Aishwarya Rai, Saif Ali Khan and Kareena Kapoor. Now it is the turn of Ajay Devgan, who is a Brand Ambassador of Andhra Pradesh state to get his name in Panama Papers .The actor bought over the entire shareholding of a British Virgin Islands (BVI) company Marylebone Entertainment Limited in 2013 and is involved in stashing wealth in abroad illegally.
The actor admits floating the company to acquire and exploit overseas rights of Hindi films. He claims that the company was set up with RBI guidelines for overseas direct investment route. He also claims that his family made all the needed disclosures in the tax returns as required by law.
The Panama Papers are an unprecedented leak of 11.5m files from the database of the world’s fourth biggest offshore law firm, Mossack Fonseca. The records were obtained from an anonymous source by the German newspaper Süddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ).