Mumbai, April 7: After Bollywood mega star Amitabh Bachchan was implicated in alleged international tax evasion and money laundering scandal exposed by the Panama papers leak, some other stars’ names have cropped up. Media reports said on Thursday that a consortium of 10 people that was formed to bid for the Pune IPL team in March 2010 and that included Bollywood actor sisters Kareena Kapoor Khan and Karishma Kapoor, had formed an offshore firm to control the franchise.
Kareena’s husband Saif Ali Khan was also a part of consortium, which also included industrialist Videocon founder Venugupal Dhoot’s firms and Pune-based realtors Chordia family. The members had formed P-Vision Sports in order to bid for the Pune Franchise, but had also earmarked 15 percent of the investment into an offshore company. The faceless company was named Obdurate Limited and it was was based in the British Virgin Isles, revealed the Panama Papers Leak, analysed by the Express. Also Read: Panama Papers Leak: Amitabh Bachchan opens up about scandal; says he has not committed any offence
The company was shut soon after the bidding was over, said the report. The members had signed a Memorandum of Understanding (MoU) which said, “The consortium have formed a company P-Vision Sports Private Limited in which the parties will invest and own shares in the company for the purpose of operating the IPL franchise on successfully winning the bid”.
The actors Kareena, Karishma and Saif held 4.5%, 4.5% and 9% of shares respectively. According to Mossack Foseca records, the largest stake- 33 per cent- amongst the members had been held by the Chordias of Pune based realty giant Panchshil Group. Atul Chordia had 9 per cent, his wife Varsha Chordia had another 9 per cent and their family-run Courtyard Properties Private Limited had another 15 per cent. Videocon’s Venugopal Dhoot also held around 25% stake through Videocon Industries Ltd (24.5 per cent) and Videocon International Electronics Ltd (0.5%).