The biggest controversy of 2016 has to be the Panama Leaks. Not only did these leaks affect the overall perceptions for many, it has also ended up with resignation and dissolution of power. Out of the several well-known victim, one of the most shocking name to be surfaced in connection with the Panama papers has to be of Amitabh Bachan.
These leaks pointed towards 500 Indian real estate investors to own foundations and trusts and offshore companies. ‘Big B’ was targeted as being the owner of at least four offshore shipping companies.
What makes him to be on list
According to the papers that were leaked by the Mossack Fonseca, Amitabh Bachan was said to be the appointed director of at least four offshore shipping companies. One in the British Virgin Island and three in Bahamas, which were established in 1993. The authorized money of these companies was ranging between $5000 to $50,000, although they traded ships which were worthy of millions of dollars.
In response to the accusations that were made by the papers that leaked a few days ago, Big B says that he knows nothing about the companies that he was accused to be director of. He was accused of being the director of Sea Bulk Shipping Company Ltd, Lady Shipping Ltd, Treasure Shipping Ltd and Tramp Shipping Ltd. Amitabh Bachan suggested that there is a big chance that his name has been misused.
Big B claims that there was no proof from the even the Indian Express, the newspaper who accused him of malpractice, of any wrongdoing from his side. He insists that he has paid all of his taxes on the money spent by him overseas.
As with other people named in the Panama papers, there is no clear evidence offered that the A-listers of Bollywood used their companies for inadmissible purposes. After all, having an offshore entity is not a crime.
Consequences of being on the list
A tourism company known as ‘Incredible India’ chose Amitabh Bachan to be their brand ambassador after the sudden release of the Panama papers. This post might be stripped off if Big B is found guilty of these charges.
Known for his kind attitude towards animals, he is also the ambassador for Maharashtra’s “Save Tiger Project”. However, the opposition party recently ordered that he should be removed of this position until he receives a clean slate from the Panama leaks controversy.
Reaction of fans of Amitabh Bachan
Needless to say, Amitabh Bachan has a huge fan base, with millions of fans who worship him in India. Even after the Panama papers became the center of media, a rare amount of his fans left his side. Most of the fans are sticking to his stance that he is unaware of all the companies that have been associated with him. Fans would love to see their life-long idol to get out of this mess as soon as possible.
All for now,
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