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The controversy has clouded Paramount Global Chairwoman Shari Redstone’s plans to sell Paramount, and her family’s holding company, to David Ellison and his Skydance Media.

Its holding company entered administration in September and restructuring expert Russell Downs was appointed to run the business and find a new owner.

TD Bank Group, the Canadian parent holding company, hasn’t downplayed the gravity of the charges.

Last month Harland and Wolff’s holding company collapsed into administration while the separate operational companies which run the yards continue to trade.

At both Tata Sons, the holding company, as well as individual groups within it, he appointed foreigners, non-resident Indians and executives with contacts and networks across the world in the management team.