IT Dept Contacts Lawyer of Big B’s Brother in Panama Papers Probe

A Bahamas-based firm with ties to Big B had acquired a ship from another Bahamas firm co-owned by Ajitabh Bachchan.

The Income Tax department has contacted Ajitabh Bachchan’s London-based lawyer, Sarosh Zaiwalla, in connection with the offshore shipping companies that list Amitabh Bachchan as director, reports The Indian Express.

The IT department’s move follows reports that a Bahamas-based firm, that had listed Amitabh Bachchan as a director in the Panama Papers, acquired a ship from another Bahamas company that was co-owned by his brother Ajitabh Bachchan, in 1994.

In the past, Amitabh Bachchan has denied being part of any Bahamas-based shipping company.

The IT department wrote to Zaiwalla in May and requested his assistance in the ongoing inquiry into the Panama Papers.

The Indian Express reported that Zaiwalla had confirmed in an interview earlier that USD 15 million of “Bachchans’ family wealth” was invested in an offshore shipping business partnership. Zaiwalla added that he and Ajitabh Bachchan were partners in this 1990-92 arrangement.

Also Read:
The What’s What and Who’s Who of the Panama Papers Leak
After Bachchan’s Denial, Two Panama Firms Record Him as Director
Panama Papers Are Now Public, 2,000 Indian Links Revealed