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Panama Papers: Records show Amitabh Bachchan joined board meetings via phone for share transfer, $1.75-m loan

by Legal DesireApril 21, 2016

On April 4, as part of its ongoing investigation into The Panama Papers, The Indian Express reported that records of Panamanian law firm Mossack Fonseca showed that actor Amitabh Bachchan served as director of four offshore shipping companies between 1993 and 1997. A day after the report appeared, Bachchan — he did not respond to emails and phone calls from The Indian Express — issued a statement that he did not know any of the companies, had not been a director of any of them and that “it is possible that (his) name has been misused”.

Panama-AB-doc-1

New records obtained and investigated by The Indian Express contradict Bachchan’s version. These show that Bachchan, as director of two of these firms, took part in their board meetings “by telephone conference.”

These meetings of Tramp Shipping Limited (Bahamas) and Sea Bulk Shipping Company Ltd (British Virgin Islands), were held on December 12, 1994. The venue of these meetings: “38/39, The Esplanade, St Helier, Jersey, Channel Islands, JE4 8SD.”

Bachchan’s name was also recorded in the list of directors and office bearers on the Certificate of Incumbency issued by both companies. These records relate to a $1.75-million loan from a Jeddah-based investment company that also finds mention in Mossack Fonseca records investigated by The Indian Express.

Panama-AB-doc-2

These records relate to a $1.75-million loan from a Jeddah-based investment company that also finds mention in Mossack Fonseca records investigated by The Indian Express.

See Full News here on Indian Express

Legal Desire

Legal Desire

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Legal Desire
The One Stop Destination for Law providing Latest News, Notifications, Career Updates, Study Materials, Courses on Law & More.

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