Ajay Devgn Among Those Named in Sixth List of the Panama Papers

Indians set up entities in tax havens long before the government and Reserve Bank of India (RBI) allowed resident individuals to take money out of the country, claims The Indian Express as

it revealed the sixth set of names in the Panama Papers case.

Undeterred by the Foreign Exchange Regulation Act (FERA) which was in place at the time, “many Indians preferred British Virgin Islands and the Bahamas as an ideal destination for

incorporating companies in the 1990s and early 2000s.”

The fresh list contains names of metal scrap dealers to NRIs in the United States and Dubai.

Also on the list is Ajay Devgn who reportedly bought over the entire shareholding of a British Virgin Islands (BVI) company Marylebone Entertainment Limited in 2013, claiming it was done to

acquire and exploit overseas rights of Hindi films.

Also Read: Panama Papers: IT Department Cracks Down on Three Delhi Residents

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