Panama Papers: Aishwarya's team says report “totally untrue & false”

The names of megastar Amitabh Bachchan and his daughter-in-law Aishwarya Rai figured among the list of well-heeled Indians in the Panama Papers, a set of over 11 million leaked confidential documents of Panamanian law firm Mossack Fonseca.

The analysis reports of a set of the documents revealing hidden offshore assets were published on Monday, April 3. The Indian Express was among the 107 media organisations which investigated over 36,000 files from the massive leak for eight months.

Their investigation revealed that Aishwarya was director and shareholder of a firm in the British Virgin Islands, along with her family members. The company was said to have been dissolved in 2008. Amitabh Bachchan was director of four shipping companies – one in the British Virgin Islands and three more in the Bahamas.

Aishwary’s media advisor has rejected the documents as "totally untrue and false". Big B has not yet commented on the documents.

As with many of the people named in the documents, there is no evidence offered that the Bollywood A-listers used their companies for improper purposes, and having an offshore entity is not illegal.