Close X
Wednesday, November 27, 2024
ADVT 
Bollywood

Mix Of Bollywood, Glamour, Sports In Latest 'Panama Papers' Expose

Darpan News Desk IANS, 07 Apr, 2016 12:50 PM
    A consortium that unsuccessfully bid for an Indian Premier League franchise -- which included actors Saif Ali Khan, Kareena Kapoor and Karisma Kapoor, industrialist Venugupal Dhoot's firms and Pune-based realtors Chordia family -- had investments by an offshore company.
     
    Stating this in its latest "Panama Papers" expose, The Indian Express on Thursday reported that 10 members had entered into a pact to form P-Vision Sports to bid for IPL Pune franchise, in which 15 percent was earmarked for the offshore firm, Obdurate Ltd in British Virgin Islands.
     
    It was shut after failing to win the bid, the newspaper said.
     
    In the sports consortium, the largest stake of 33 percent was held by the Chordia family, 4.5 percent each by Kareena and Karisma, 9 percent each by Saif and Mumbai resident Manoj S. Jain and 25 percent by Dhoot through two group companies. Obdurate was earmarked 15 percent.
     
    Dhoot said he was concerned only with the 25 percent in P-Vision sports and did not know of Obdurate, while Atul Chordia said his group always owned 100 percent of the sports company and that the offshore entity never held any share in it.
     
    As regards others, the newspaper said, Kareena Kapoor's office informed she was not in town, Jain was not available for comment and Saif did not respond to messages and e-mails.
     
    Indian authorities, led by Reserve Bank Governor Raghuram Rajan, have said not every off-shore company opened by an Indian need be illegitimate, and that this would be the primary task of a probe team that has been set up as per orders by Prime Minister Narendra Modi.
     
     
    The latest expose by Indian Express had another story with a sports link: That Lokesh Sharma, managing director of sports management major Twenty First Century Media, has two companies of his own registered in the tax haven of British Virgin Islands. The third is a subsidiary of the sports company.
     
    Sharma told the Express that while a company in British Virgin Islands, Margarita Services, was intended to be acquired through an overseas solicitor, he neither proceeded on the matter, nor did he receive any share of the company operated or managed by the entity.
     
    As regards another firm, Mardi Gras Holdings, he said he has been complying with relevant Indian laws and that the tax returns for the same for the year ended March 31, 2016 were not due yet. In the third entity, Peppermint Management, Sharma said he was compliant and Reserve Bank of India was informed.
     
    The newspaper has been carrying the stories as part of a global expose of International Consortium of Investigative Journalists (ICIJ) and over 100 global media organisations, dubbed the "Panama Papers", based on millions of leaked documents of a Panama law firm Mossak Fonseca.
     
    Among others named in the expose on Thursday included a Delhi-based tyre dealer, a boutique owner, the daughter of an Australian mining billionaire, a textiles exporter, an engineering company owner, metals firm's directors and a chartered accountant.

    MORE Bollywood ARTICLES

    Who’s Most Likely To?...WATCH: Khan Sisters Gauahar And Nigaar Reveal Secrets Online

    Who’s Most Likely To?...WATCH: Khan Sisters Gauahar And Nigaar Reveal Secrets Online
    Actresses and sisters Gauaharand Nigaar Khan have revealed each other's secrets and habits online.

    Who’s Most Likely To?...WATCH: Khan Sisters Gauahar And Nigaar Reveal Secrets Online

    It Was 'Tough' Working With Sridevi As She Is Too Good With Her Work: Akshaye Khanna

    Akshaye Khanna, who plays a significant role in his upcoming film 'Mom', says it was 'tough' to work with Sridevi as she is too good with her work and that's the problem.

    It Was 'Tough' Working With Sridevi As She Is Too Good With Her Work: Akshaye Khanna

    Mahira Khan Is Sweet: Sunny Leone

    Bollywood actress Sunny Leone, who has performed on the song "Laila main Laila" from "Raees", says Pakistani actress Mahira Khan -- who features as Shah Rukh Khan's love interest in the movie -- is a sweet person.

    Mahira Khan Is Sweet: Sunny Leone

    Amitabh Bachchan Wishes Jeetendra On 74th Birthday

    "Happy birthday Jeetendra .. urf Jeetu," Amitabh tweeted.

    Amitabh Bachchan Wishes Jeetendra On 74th Birthday

    Pratyusha's Boyfriend's Anticipatory Bail Plea Rejected

    Pratyusha's Boyfriend's Anticipatory Bail Plea Rejected
    A court on Thursday rejected the anticipatory bail plea of actor-director Rahul Raj Singh, the boyfriend of television actress Pratyusha Banerjee who committed suicide on April 1.

    Pratyusha's Boyfriend's Anticipatory Bail Plea Rejected

    Karan Johar 'Dying' To Watch 'Fan'

    Karan Johar 'Dying' To Watch 'Fan'
    Filmmaker Karan Johar says he is "dying" to watch his close friend and superstar Shah Rukh Khan's forthcoming film "Fan".

    Karan Johar 'Dying' To Watch 'Fan'

    PrevNext