Bollywood actor Jackie Shroff's name has been cropped up in an investigation done by Indian Express for the Pandora Papers. Jackie Shroff has been named as the primary beneficiary in an overseas trust. The trust mentioned was set up in New Zealand by his mother-in-law Claudia Dutt reports Indian Express. It is said that Jackie Shroff made substantial contributions to this trust. The report states that records show the trust has a Swiss bank account and also owns an offshore company, registered in the British Virgin Islands.
As per the report, Dutt had formed Media Trust which was registered with the London Fiduciary Trust Company Limited (LFTC) in New Zealand. Media Trust is a trustee company that reportedly provided trust and corporate service. Media Trust was terminated in September 2013, the report in Indian Express said.
The investigation report also revealed that in the memorandum Tiger Shroff (mentioned Jai Shroff, original name) and Krishna Shroff as other two beneficiaries. Furthermore, the memorandum Shroff was "to be considered the primary beneficiary during his lifetime and his needs should be paramount."
Records in the Pandora Papers do not mention the amount that Jackie Shroff contributed to the trust. However, a private Swiss account has been linked to the Trust with the Clariden Leu Bank. The report revealed that the bank account was also closed in 2013.
Shailesh V Patkar has been named as the protector of the trust. He reportedly has the powers to add/revoke the beneficiaries, appoint beneficiaries and also issue instructions regarding the distributions. Millenstock Holdings Limited, the offshore company that the Media Trust owned was struck off the register of companies in 2013.
Ayesha Shroff reacted to the investigation. She said, "My family and I have absolutely no knowledge of any such Trust. My mother, who passed away over ten years ago, was a Belgian citizen and not a resident of India.
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