Panama Papers

Amitabh Bachchan's name as new ambassador of 'Incredible India' on hold


The Centre is reportedly reluctant to name Bollywood actor Amitabh Bachchan as the brand ambassador of the 'Incredible India' campaign after the 'Panama Papers' revealed his alleged links with offshore companies in a tax haven.

Amitabh's name is said to be on hold after his name surfaced in the 'Panama Papers' even as the investigative agencies were not immediately able to clear his name in the controversy.

However, there is no official confirmation on the reports yet.

A trove of documents leaked from a Panama-based law firm, Mossack Fonseca, which helped create offshore companies for the world's powerful and rich, has named about 500 Indians. Amitabh and his daughter-in-law Aishwarya Rai Bachchan were among the prominent names that were featured in the controversial list.

According to the leak, Amitabh was named director of at least four offshore companies.

The leak had triggered a global probe by tax authorities across the world. The Narendra Modi government has also formed multi-agency team to probe Indian names named in the 'Panama Papers.'

Reacting to the controversy, Amitabh had denied to having links with offshore companies, saying his name “has been misused. “

“I do not know any of the companies referred to by Indian Express—Sea Bulk Shipping Company Ltd, Lady Shipping Ltd, Treasure Shipping Ltd and Tramp Shipping Ltd. I have never been a director of any of the above stated companies," the actor had said in a statement.

“It is possible that my name has been misused,” he said. "I have paid all my taxes, including on monies spent by me overseas. Monies that I have remitted overseas have been in compliance with law, including remittances through LRS, after paying Indian taxes.”

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