India’s legendary cricketer Sachin Tendulkar has been named in the International Consortium of Investigative Journalists (ICIJ) Pandora Papers – a detailed investigation into financial secrets of hundreds of political leaders, business personalities and celebrities.
The leaked documents also revealed that former captain, Sachin Tendulkar, his wife, Anjali Tendulkar, and his father-in-law, Anand Mehta, owned an offshore company in the British Virgin Islands until 2016.
The investigation revealed that India’s all-time batting great “re-organized his offshore assets following the 2016 Panama Papers investigation.”
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“The company, Saas International Limited, remained operational from 2012 to 2016 when Tendulkar was a member of the Indian parliament,” the report revealed. It was liquidated in 2016 three months after the Panama Papers were released.
According to Indian Express, “The average buyback price of shares of Saas International Limited is around $96,000. And as a resolution of the company dated August 10, 2007 (the day the company was formed) shows, 90 shares of the company were issued at the outset,” the Indian publication said.
The CEO and the Director of Sachin Tendulkar Foundation, Mrinmoy Mukherjee, has said that Tendulkar’s investments were “made from his tax paid funds under the Liberalized Remittance Scheme (LRS) and has been duly accounted for and declared in his tax returns.”
“We reiterate that the investment by Tendulkar has been legitimately made through banking channels from India and has been declared to the income tax authorities,” the CEO stressed.
