Govt directs investigations in cases of Paradise Papers; to be monitored by a reconstituted Multi Agency Group

Govt directs investigations in cases of Paradise Papers; to be monitored by a reconstituted Multi Agency Group

By: || Updated: 06 Nov 2017 06:25 PM

PM Modi orders probe into Paradise paper leak/ File image

New Delhi: Hours after Congress dared Prime Minister Narendra Modi to initiate action against the suspected Indian tax evaders who feature in the "Paradise Papers" leak, including one of his ministers, and put the entire facts before the Supreme Court bench overseeing black money investigations; Government began probe.

Government directed that investigations in cases of Paradise Papers will be monitored through a reconstituted Multi Agency Group.

As per a statement issued by Central Board of Direct Taxes, “The reconstituted Multi Agency Group will be headed by the CBDT Chairman and have representatives from CBDT, ED, RBI & FIU.”

Minister of State Jayant Sinha, BJP MP Ravindra Kishore, Congress leader Sachin Pilot, former minister P. Chidambaram's son Karti and Bollywood superstar Amitabh Bachhan figure among 714 Indians named in a financial data expose on how the world's rich and powerful have stashed their wealth abroad to evade legitimate taxes, according to a worldwide investigation whose first lot of revelations was published on Monday.

India ranks 19th among 180 countries, exposed in the cache of 13.4 million documents dubbed as "Paradise Papers", in terms of the number of individuals and companies who have skirted taxes and invested in offshore companies in tax havens.

It comes a year after Panama Papers leak and two days before the government observes "Anti-Black Money Day" to mark the first anniversary of demonetisation - a move that sought to hit at illicit wealth.

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