The Panama Papers are the 11.5 million leaked documents that were published beginning on April 3, 2016, and are suddenly back in the news in India after Bollywood actor Aishwarya Rai Bachchan was questioned by the Enforcement Directorate (ED) on Monday.
The data were given to a German journalist named Bastian Obermayer by an anonymous whistleblower entitled 'John Doe,' who uncovered the illegal transactions.
The 'Mossack Fonseca' firm, according to a study, employs roughly 500 Indians. Among the many names mentioned in the Panama Papers leak are Bollywood and Hollywood stars Amitabh Bachchan, Aishwarya Rai-Bachchan, Ajay Devgn, Jackie Chan and Simon Cowell.
Bachchan was a director of four shipping companies based in the British Virgin Islands and the Bahamas, according to the released documents. These firms' authorized capital ranged from $5,000 to $50,000, yet they traded in ships worth millions of dollars, according to the investigation.
In the Panama Papers, actor Devgn was listed as the major shareholder of Marylebone Entertainment Ltd, which is based in the British Virgin Islands. Hassan N Sayani, a London-based investor, was the firm's first shareholder as of October 29, 2013.
According to the Panama Papers, the actress attended a meeting of the Board of Directors of Amic Partners Limited, a British Virgin Islands (BVI) firm, in Dubai in June 2005, the year the business was founded. She is also being questioned about a significant contribution made to her husband Abhishek Bachchan's foreign bank account under the Liberalized Remittance Scheme (LRS).
The records also revealed that Hong Kong-born action star Chan has at least six companies managed through Mossack Fonseca. The holdings include companies called Jumbo Jaz Investment, Jackie Chan Ltd. and Dragon Stream Ltd.
According to reports, Southstreet Ltd. and Eaststreet Ltd. are two British Virgin Islands corporations in which Cowell is the majority shareholder. Both of these businesses were founded in 2007, when Cowell was preparing to purchase two land plots in Barbados.