Centre to investigate pandora paper cases 

The Pandora Papers is a leak of almost 12 million documents and files that exposed the secret wealth of several world leaders, politicians and billionaires.

Created On: Oct 5, 2021 13:22 IST
Centre to investigate pandora paper cases
Centre to investigate pandora paper cases

The central government has reportedly ordered a probe into the cases of pandora papers and assured of appropriate action. The multiagency probe is likely to involve the Enforcement Directorate, Central Board of Direct Taxes, Reserve Bank of India and Financial Intelligence Unit.

The Union Finance Ministry stated the relevant investigative agencies would undertake an investigation in these cases and appropriate action would be taken in such cases as per law.

The Ministry noted that India is a part of an Inter-Governmental Group that ensures ‘collaboration and experience sharing to effectively address tax risks associated with such leaks’. It stated that the government would interact with foreign jurisdictions in the course of the probe to ensure effective investigation in these cases.

The Ministry though added that names of only a few Indians have appeared so far in the media.

What are Pandora Papers?

The Pandora Papers is a leak of almost 12 million documents and files that exposed the secret wealth of several world leaders, politicians and billionaires. The data was obtained by the International Consortium of Investigative Journalists in Washington DC. It has led to one of the largest investigations in journalism history. 

It contained documents, images, emails and spreadsheets from 14 financial service companies, in nations including Panama, UAE and Switzerland.

Indians in Pandora Papers

Around 300 Indians are mentioned in the Panama papers including Anil Ambani, Jackie Shroff, Kiran Mazumdar-Shaw, Vinod Adani, Niira Radia, Satish Sharma and veteran Indian cricketer Sachin Tendulkar. 

Other big global names include King of Jordan, former British prime minister Tony Blair, president of Ukraine, Kenya and Ecuador, prime minister of Czech Republic and celebrities like Shakira, Elton John and Spanish singer Julio Iglesias.

Background

Two former Supreme Court judges, who head centre's Special Investigating Team (SIT) on black money have stated “action” might be taken on the recent revelations. The team was set up by the centre in 2014 following the first Cabinet assembly of PM Narendra Modi-led government.

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