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New Delhi, October 4 (PTI): The government will investigate every Indian name appearing in an unprecedented leak of financial records, known as the 'Pandora Papers', which alleged that many world leaders have secret offshore stores of wealth.
A Multi-Agency Group made up of the tax department, Enforcement Directorate, RBI and FIU, will probe the names and the government will seek from foreign jurisdictions information about Indians in the list, CBDT said in a statement.
Anil Ambani, Vinod Adani, Jackie Shroff, Kiran Mazumdar-Shaw, Niira Radia, Sachin Tendulkar and Satish Sharma are among the Indians who figure in the 'Pandora Papers' that comprise 11.9 million confidential documents from 14 separate legal and financial services firms.
"The Government has taken note of these developments. The relevant investigative agencies would undertake an investigation in these cases and appropriate action would be taken in such cases as per law," the Central Board of Direct Taxes (CBDT) said.
With a view to ensure effective investigation in these cases, the government will also "proactively engage with foreign jurisdictions for obtaining information in respect of relevant taxpayers/entities." The statement neither named any individual it would investigate nor gave a timeline for completing the probe.
"The Government has directed today that, investigations in cases of Pandora Papers leaks will be monitored through the Multi Agency Group, headed by the Chairman, CBDT, having representatives from CBDT, ED, RBI and FIU," it said.
The Government of India, it said, is also part of an inter-governmental group that ensures collaboration and experience sharing to effectively address tax risks associated with such leaks.
Disclaimer: This story is auto-generated from news agency feeds and has not been edited by The Morung Express.
Source: PTI
