Panama papers: 7 questions ED asked Aishwarya Rai Bachchan

Aishwarya Rai Bacchan leaves ED office after questioning in Delhi on Monday. Pic/ Pallav Paliwal

Bollywood actor Aishwarya Rai was on Monday quizzed for more than five hours by the officials of the Enforcement Directorate (ED) at its Jam Nagar office in Delhi, connection with the Panama Papers expose for allegedly violating FEMA (Foreign Exchange Management Act).

A team of six officials, including a lady official, recorded her statement. A source said that Aishwarya was asked as many as 50 questions regarding a firm reportedly incorporated by her father-in-law and Bollywood icon Amitabh Bachchan. The firm was incorporated in British Virgin Island. She was first the director of the firm and then became a shareholder.

Here are some of the questions asked to the actor, as per a report in India Today.

• Amic Partners was a company incorporated and registered in the British Virgin Islands in 2005. What association do you have with this company?
• Do you know the law firm where Mossack Fonseca registered the company?
• This company's directors include you, your father Kotedadiramana Rai Krishna Rai, your mother Kavita Rai, and your brother Aditya Rai. What can you say about this?
• The initial paid-up capital is $50,000. Each share was worth $1, and each director had 12,500 shares. Why did you become a shareholder from your position as a director?
• Why was your status changed to shareholder in June 2005?
• Why did the company become inactive in 2008?
• Was permission from the RBI sought for financial transactions?

This was the third time that the actor was summoned. However, she didn't join the probe on the earlier occasions.

The ED had lodged a case under FEMA after the Panama Papers leak showed how companies were set up in offshore islands to avoid taxes. Aishwarya and others have been named in the case.

In 2016, the Panama Papers leak case came to the light in which Aishwarya and Bachchan family members were named. The names of Amitabh Bachchan and Abhishek Bachchan also cropped up in the case.

(With inputs from agencies)