Pandora papers: Biocon's Kiran Mazumdar-Shaw says husband's offshore trust 'bonafide and legitimate'

WION Web Team
New delhiUpdated: Oct 04, 2021, 01:48 PM IST

File photo: Kiran Mazumdar Shaw Photograph:(Zee News Network)

Story highlights

Biocon Executive Chairperson Kiran Mazumdar-Shaw's name has reportedly been mentioned in Pandora papers in relation to her husband John McCallum Marshall Shaw's offshore trust. He is a British citizen and a key person associated with a trust he set up was barred by the Securities and Exchanges Board of India (Sebi) for insider trading this year

Kiran Mazumdar-Shaw, Executive Chairperson of biotechnology major Biocon Limited on Monday came out in defence of her husband John McCallum Marshall Shaw who has been named in Pandora papers. She said that her husband's offshore trust was 'bonafide and legitimate' and accused media of 'wrongly' implicating it.

"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 tweeted.



Mazumdar-Shaw's name finds a mention in Pandora papers along with more than 300 Indians including ADAG chief Anil Ambani, legendary cricketer Sachin Tendulkar, Bollywood actor Jackie Shroff and other.

Millions of leaked documents dubbed as the 'Pandora Papers' by a worldwide journalistic partnership on Sunday claimed to have uncovered financial secrets of current and former world leaders, politicians and public officials in 91 countries and territories.

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

(With inputs from agencies)