Kiran Mazumdar-Shaw slams Pandora Papers reports

EXECUTIVE chairperson of Indian biotechnology major Biocon Limited Kiran Mazumdar-Shaw on Monday (4) said the reporting on the Pandora Papers, a leak of offshore financial records that allegedly reveals how elites stash their wealth in tax havens, showed her husband’s offshore trust in a wrong light.

The ‘Pandora Papers’ have named as many as 300 Indian individuals and they include some high-profile names like Sachin Tendulkar, Anil Ambani, Nirav Modi, Mazumdar-Shaw and others.

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According to Mazumdar-Shaw, the ‘Pandora Papers’ have wrongly implicated her husband’s offshore trust and called the organisation as “bonafide” and “legitimate”.

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“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,” she said in a tweet.

Millions of leaked documents called the ‘Pandora Papers’ by a worldwide journalistic partnership on October 3 claimed to have uncovered financial secrets of current and ex world leaders, politicians and public officials in more than 90 nations and territories, including India.

The International Consortium of Investigative Journalists, which involved the UK’s BBC and The Guardian newspapers and India’s The Indian Express among 150 media organisations, claims to have accessed nearly 12 million confidential files to find secret financial dealings of several super rich.

The ‘Pandora Papers’ are a follow-up to a similar project called the ‘Panama Papers’ which was released in 2016 and it was compiled by the same journalistic group.