The cases pertaining to the ‘Pandora Papers’ leaks will be investigated, an official spokesperson for Central Board of Direct Taxes, Government of India (CBDT) said on Monday, 4 October, news agency ANI reported.
‘Pandora Papers’, an investigation by the International Consortium of Investigative Journalists (ICIJ), which includes 150 media outlets, including The Indian Express, claims to have revealed financial secrets of the “rich, the famous and the notorious” from 91 countries.
At least 380 Indians have been named in the Pandora Papers. These individuals include Anil Ambani, Sachin Tendulkar, and Kiran Mazumdar Shaw among others. Sixty of these prominent individuals and companies have been verified and have had their documents corroborated.
A Multi Agency Group, headed by the CBDT Chairman, will investigate the case and representatives from CBDT, Enforcement Directorate, Reserve Bank of India and Financial Intelligence Unit will also be a part of the probe.
"The Government has taken note of these developments. The relevant investigative agencies would undertake investigation in these cases and appropriate action would be taken in such cases as per law," a press release said on Monday,
It added that with an order 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 investigation by 600 journalists from all over the world revealed how “complex multi-layered trust structures for estate planning” were being set up in parts of the world that are “loosely regulated for tax purposes, but characterised by air-tight secrecy laws.”
(With inputs from ANI)
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