Ajay Devgn Named in Panama Papers Expose

In a latest development in the Panama Papers leak, Ajay Devgn’s name has surfaced with a report claiming that he had allegedly bought 1,000 shares in a British Virgin Islands based company – Marylebone Entertainment.

He is third Bollywood celebrity to be named in the case after Amitabh Bachchan and Aishwarya Rai Bachchan.

According to the report, Devgn bought over the entire shareholding of Marylebone Entertainment Limited in 2013. The actor claimed that it was done to acquire and exploit overseas rights of Hindi films. Mossack Fonseca & Co (BVI) Ltd, a Panama based firm, was the registered agent of Marylebone Entertainment Ltd at the time of incorporation, said the report.

The report claimed Devgn bought the shares in the name of his company Nysa Yug Entertainment, which he co-owns with wife Kajol.

Ajay took over as the director of the company in 2013 and resigned in 2014.

Responding to the report, Ajay clarified that the company was set up under the RBI guidelines for overseas direct investment route. “Proper disclosures have been made by my family in the tax returns as required by law,” he said.

Earlier, Panama Papers leak revealed that Amitabh Bachchan was part of board meetings of some offshore companies. The actor, however, denied his involvement and said that he did not know about any of the companies in which he was named.