Decoded: Of 'Pandora Papers', insider trading and Biocon link

Kiran Mazumdar-Shaw, executive chairperson of Biocon denied any impropriety

The name of Allegro Capital, an entity the Securities and Exchange Board of India (Sebi) investigated for insi­der trading, has turned up in the ‘Pandora Papers’ —  a global investigation of offshore entities. Its director Kunal Ashok Kashyap, according to the report published in The Indian Express, is also associated with Deanstone Trust — set up through another entity owned by John McCallum Marshall Shaw, husband of Kiran Majumdar-Shaw, the executive chairperson of Biocon. It’s noted that offshore entities can be set up for genuine business purposes and the parties cited in the Pandora Papers have denied any wrongdoing. Here’s