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#Panamapapers: After Bachchans, Ajay Devgan named in infamous tax evasion scam

 2016-05-05 08:05:01.0

52109965Tahlka news Bureau,

Mumbai:�After Bollywood Amitabh Bachchan and Aishwarya Rai Bachchan, now the name of National Award winning actor-producer, Ajay Devgan�s has surfaced in the Panama Paper leaks.

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.

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