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Big B denies Parekh or Zee stake in AB Corp

Anjan Mitra

AB Corp, the Amitabh Bachchan-promoted company, has said there is no question of transferring any of the so-called equity stake held by Ketan Parekh's companies in it, to either Zee Telefilms Ltd or the Essel group.

"There is no question of transferring any shares of AB Corp to anybody, including Zee Telefilms Ltd or Essel," Amitabh Bachchan told Business Standard on Thursday when asked specifically on whether his company had transferred the shares.

Saying he had no knowledge of Parekh acquiring shares in AB Corp, Bachchan said, "As far as I know, Ketan Parekh (or any of his companies) does not have any stake in AB Corp. I have no knowledge of it." Pressed further on the issue, Bachchan said, "If Zee or the others are saying they have shareholding in AB Corp, it's their outlook."

In an interview given to Business Standard in April, the Essel group and Zee Telefilms Ltd chairman Subhash Chandra had said, "One of our investment companies, which I do not control and is looked after by a family member, had given Rs 500 million (to Ketan Parekh as part of inter-corporate deposits) sometime back. But it's a secured amount."

Chandra had further stated that the amount loaned to Parekh was a secured loan guaranteed against the latter and his companies' shareholding in AB Corp and B4U.

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