Explorer

Multi Agency Group to probe 'Paradise Papers' cases

 The Central Government has directed that investigations in cases of Paradise Papers would be monitored through a reconstituted Multi Agency Group, the Central Board of Direct Taxes (CBDT) said, in an official statement today.

The investigative group will be headed by the chairman of the CBDT, having representatives from the CBDT, the Enforcement Directorate (ED), the Reserve Bank of India (RBI) and the Financial Intelligence Unit (FIU).

The investigation units of the Income Tax Department (ITD) have also been alerted to take note of the revelations in order to take a swift legal action accordingly.

As per the CBDT, the revelations made in media under the name 'Paradise Papers' that was based upon an expose by the International Consortium of Investigative Journalists (ICIJ), features names of only a few Indians (legal entities as well as individuals) so far.

"Even the ICIJ website (www.icij.org) has not yet released the names and other particulars of all the entities. The website of ICIJ suggests that information will be released in phases and structured data connected to Paradise Papers investigation will be released only in the coming weeks on its Offshore Leaks Database," read the official statement.

The 'Paradise Papers' leak, dubbed as the second largest data leak in history after Panama Papers, claims that some 714 Indians allegedly have offshore accounts in tax havens, landing India in the 19th rank out of 180 countries in terms of number of names in the data.

Paradise Papers include nearly 7 million loan agreements, financial statements, emails, trust deeds and other paperwork over nearly 50 years from inside Appleby, a prestigious offshore law firm with offices in Bermuda and beyond. The leaked documents include files from the smaller, family-owned trust company, Asiaciti (Singapore), and from company registries in 19 secrecy jurisdictions.

For latest breaking news, other top stories log on to: http://www.abplive.in & https://www.youtube.com/c/abpnews

News Videos

ABP Shikhar Sammelan 2024: Anurag Thakur's counterattack to opposition over electoral bonds
ABP Shikhar Sammelan 2024: Anurag Thakur's counterattack to opposition over electoral bonds

New Reels

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headline

'Have To Save Our Families: PM Modi Blasts DMK Over Drug Busts In TN, Says 'BJP Enough To Fight Menace'
PM Modi Blasts DMK Over Drug Busts In TN, Says 'BJP Enough To Fight Menace'
Mukhtar Ansari Death: UP Court Orders Probe After Son Claims Father 'Poisoned' In Jail — Top Points
Mukhtar Ansari Death: UP Court Orders Probe After Son Claims Father 'Poisoned' In Jail — Top Points
I.N.D.I.A Bloc In Bihar: Here's How Congress, RJD Have Decided To Share Seats After JD-U's Exit
I.N.D.I.A Bloc In Bihar: Here's How Congress, RJD Have Decided To Share Seats After JD-U's Exit
'BJP Should Pay Rs 4,600 Crore': Congress Slams Income Tax Dept, ECI After Getting Rs 1,700-Crore Notice
'BJP Should Pay Rs 4,600 Crore': Congress Slams Income Tax Dept, ECI After Getting Rs 1,700-Crore Notice
Advertisement
for smartphones
and tablets

Videos

Emotional Yet Fun Video Featuring Kapil Sharma, Tabu & Rhea Kapoor, Sharma To Star In 'Crew'ABP Shikhar Sammelan 2024: Anurag Thakur's counterattack to opposition over electoral bondsABP Shikhar Sammelan 2024: Why did BJP canceled tickets of more than 100 sitting MP's?|Anurag ThakurABP Shikhar Sammelan 2024: Anurag Thakur's gets angry on TMC-Congress over remarks on Kangana Ranaut

Photogallery

Embed widget