Actor-entrepreneur Ajay Devgan, born Vishal Veeru Devgan, bought over the entire shareholding of a British Virgin Islands (BVI) company Marylebone Entertainment Limited in 2013, claiming it was done to acquire and exploit overseas rights of Hindi films.


Mossack Fonseca & Co (BVI) Ltd was the registered agent of Marylebone Entertainment Ltd at the time of incorporation.


The original shareholder of the company, registered in the BVI on October 29, 2013, was Hassan N Sayani, an individual based in London. Sayani was issued 1,000 shares on October 31, 2013. Ajay Devgan bought over the entire shareholding from Sayani the same day.


When contacted, Ajay Devgan told The Indian Express, "This company was set up with RBI guidelines for overseas direct investment route. Proper disclosures have been made by my family in the tax returns as required by law." Read more