Sachin Tendulkar

Former India player Sachin Tendulkar’s name has come up in the Pandora Papers as Beneficial Owners in the British Virgin Islands (BVI) which was liquidated in 2016.

· Sachin Tendulkar (9 shares): $856,702

· Anjali Tendulkar (14 shares ): $1,375,714

· Anand Mehta (5 shares) $453,082

According to The Indian Express, Mrinmoy Mukherjee, CEO and Director of Sachin Tendulkar Foundation, said: “The referenced investment by Mr. Tendulkar has been made by him from his tax paid funds under the Liberalised Remittance Scheme (LRS) and has been duly accounted for and declared in his tax returns.”

“You have, in your email, not only recognised the legal uses of offshore companies, but also indicated that the ICIJ’s intention is to look into the use of certain jurisdictions by persons to engage in money laundering, tax evasion and other illicit activities.”

“This being the case, we would therefore at the outset wish to strongly reiterate the legitimacy of the referenced investment by Mr. Tendulkar, the payment of taxes on such funds, and the declaration of such investment in Mr. Tendulkar’s tax returns. As is evident from the payment of taxes by Mr. Tendulkar and the declaration of such investment in Mr. Tendulkar’s tax returns, there can be no question of Mr. Tendulkar having engaged in any of the practices quoted in your email.”

He added: “We reiterate that the investment by Mr. Tendulkar has been legitimately made through banking channels from India and has been declared to the income tax authorities. Further, the amount of Rs 60 crore as quoted by you is grossly incorrect, but regardless, all amounts received by Mr. Tendulkar on liquidation of the investment have also been declared in his tax returns.”

“We would once again request you to ensure that neither The Indian Express nor the ICIJ attributes or alleges any improper or illegal motives to Mr. Tendulkar’s legitimate investments,” he added.

LEAVE A REPLY

Please enter your comment!
Please enter your name here