Home News Hot news Panama Leaks: Aishwarya Denies, KP Singh Says “It’s Permissible”
Panama Leaks: Aishwarya Denies, KP Singh Says “It’s Permissible”
The actor has denied the finding while DLF chief said it is permissible within RBI laws.
The Quint
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Actor Aishwarya Rai has been mentioned in the Panama leaks. (Photo: PTI)
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The biggest leak of over 11 million documents of a Panaman
law firm features over 500 Indians linked to offshore firms – some very
prominent names, like actors Amitabh Bachchan, Aishwarya Rai, DLF chief KP
Singh and Gautam Adani’s elder brother Vinod Adani – to name a few.
According to media channels, Aishwarya Rai’s team has denied the
charges as “untrue”. Kushal Pal Singh, on the other hand maintained that this whole
thing is permissible within RBI laws – The Indian Express reported.
The shares in the foreign entity have been subscribed by us through and out of the funds held by us in our foreign bank accounts. No funds were remitted directly from India to subscribe/acquire any shares of any foreign company.
<b>Kushal Pal Singh, </b><b>Owner, </b><b>DLF</b>
KP Singh, chairman of Indian property developer DLF Ltd. (Photo: Reuters)
It is submitted that the permissible modus operandi of RBI for remittance of money under permissible LRS limit each year allows a Resident Indian to firstly open a bank account in a foreign bank and thereafter remit the funds in it. The remittances commenced in 2004 after RBI announced the LRS, the quantum of remittances were within the prescribed limits, and undertaken through the Authorised Dealer.