Pandora Papers wrongly implicate husband's offshore trust: Kiran Mazumdar-Shaw

Kiran Mazumdar-Shaw on Monday said the Pandora Papers have wrongly implicated her husband’s offshore trust and termed the organisation as ‘bonafide’ and ‘legitimate.’

“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, the executive chairperson of biotechnology major Biocon, said in a tweet.

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.

— Kiran Mazumdar-Shaw (@kiranshaw) October 4, 2021

Millions of leaked documents dubbed as the Pandora Papers by a worldwide journalistic partnership, on October 3, claimed to have uncovered financial secrets of current and former world leaders, politicians and public officials in 91 countries and territories, including India. The Pandora Papers have named 300 Indian individuals, including Sachin Tendulkar, Anil Ambani, Nirav Modi and Kiran Mazumdar-Shaw.

Also read: Pandora Papers say world leaders, celebrities hid assets abroad

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 — claimed that it obtained the trove of more than 11.9 million confidential files to find secret financial dealings of many super-rich.

The Pandora Papers are a follow-up to a similar project released in 2016, called the Panama Papers, compiled by the same journalistic group.