The fresh revelations under the ‘Panama Paper Leaks’ are being looked into by the Multi Agency Group (MAG), which includes the tax department and the Reserve Bank, India’s finance ministry has revealed.
The ‘Panama Paper leaks’ were originally revealed by the International Consortium of Investigative Journalists (ICIJ) on April 4, 2016, following which, the Indian government had set up the MAG to probe the matter, reported PTI.
Media reports point out that more than 1.2 million fresh documents, of which about 12,000 are linked to Indians, have come to light.
“The fresh release made in the media today under the Panama Paper Leaks is being promptly looked into by the law enforcement agencies under the aegis of the MAG already constituted for facilitating coordinated and speedy investigation,” the ministry said.
It said the Panama Paper leaks involving 426 persons have been already investigated by the Income Tax Department and other member agencies of the MAG.
In the 74 cases found actionable, it said “invasive actions” were taken in 62 cases with searches conducted in 50 cases, and surveys in 12 cases leading to detection of undisclosed foreign investments of about Rs 1,140 crore, the report said.
In 16 cases criminal prosecution complaints have been filed in jurisdictional courts which are at various stages of hearing. In 32 cases notices under Section 10 of the Black Money Act have been issued, it added.