Executive chairperson of biotechnology major Biocon Limited Kiran Mazumdar-Shaw on Monday termed her husband's offshore trust as "bonafide and legitimate", as she accused media stories reporting on the 'Pandora Papers' of "wrongly" implicating it.
"Media stories reporting on Pandora Papers wrongly implicate my husband's offshore trust, which is a bonafide, legitimate trust and is managed by Independent Trustees. No Indian resident holds ‘the key’ to the trust as alleged in these stories," Mazumdar-Shaw tweeted.
Millions of leaked documents dubbed as the Pandora Papers by a worldwide journalistic partnership on Sunday claimed to have uncovered financial secrets of current and former world leaders, politicians and public officials in 91 countries and territories, including India.
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The International Consortium of Investigative Journalists (ICIJ)—which involved the BBC and The Guardian newspaper in the UK and The Indian Express in India among 150 media outlets in its investigation—claims it obtained the trove of more than 11.9 million confidential files to find secret financial dealings of many super-rich.
