Union Finance Minister Arun Jaitley has commented on the Panama Papers and says that the Prime Minister himself has requested for the investigation to be looked into.
The Prime Minister has himself requested that this matter be investigated. I think it is a healthy step that this kind of exposes is being made. The multi-agency group will comprise many government agencies (CBDT, FIU, FTNTR and representative of RBI) which will monitor them. Whichever accounts are found unlawful, strict action will be taken against them.
Arun Jaitley added that more revelations are expected and that a multi-agency group has been formed to monitor the investigation.
Speaking to ANI, the Finance Minister said that details came out as early as 2011 with regard to HSBC account holders, 569 account holders have been traced and 390 were found illegal.
Over eleven million documents have been leaked from a Panama law firm which reveals offshore financial dealings of some of the biggest names from all over the world. The leak surfaced on Sunday and reveals over 500 Indians in its list.
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