Centre promises to probe ‘Pandora Papers’ leak

A multi-agency group has been constituted to follow up the leads. It is headed by the chief of the Central Board of Direct Taxes (CBDT) and representatives from the Enforcement Directorate, Reserve Bank of India and the Financial Intelligence Unit. 

“Appropriate action would be taken after investigation,” the Ministry of Finance said in a statement. 

“With a view 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.” 

Big names such as King Abdullah of Jordan, Czech Prime Minister Andrej Babis and associates of Russian President Vladimir Putin, besides the prominent persons in India, have been implicated in the case. Anil Ambani, Vinod Adani, Jackie Shroff, Kiran Mazumdar-Shaw, Niira Radia, Sachin Tendulkar and Satish Sharma, are among the 300 Indians mentioned so far. 

Undisclosed credits of Rs 20,352 crore have been detected in the investigations carried out in the Panama and Paradise Papers by September 15. 

Leaked records open a Pandora’s box of financial secrets 

Hundreds of world leaders, powerful politicians, billionaires, celebrities, religious leaders and drug dealers have been hiding their investments in mansions, exclusive beachfront property, yachts and other assets for the past quarter-century, according to a review of nearly 12 million files obtained from 14 firms located around the world. 

The report released on Sunday by the International Consortium of Investigative Journalists involved 600 journalists from 150 media outlets in 117 countries. It’s being dubbed the “Pandora Papers” because the findings shed light on the previously hidden dealings of the elite and the corrupt, and how they have used offshore accounts to shield assets collectively worth trillions of dollars. 

The more than 330 current and former politicians identified as beneficiaries of the secret accounts include Jordan’s King Abdullah II, former UK Prime Minister Tony Blair, Czech Republic Prime Minister Andrej Babis, Kenyan President Uhuru Kenyatta, Ecuador’s President Guillermo Lasso, and associates of both Pakistani Prime Minister Imran Khan and Russian President Vladimir Putin. 

The billionaires called out in the report include Turkish construction mogul Erman Ilicak and Robert T Brockman, the former CEO of software maker Reynolds & Reynolds. 

Will probe all citizens mentioned in leaks: Imran 

Pakistan Prime Minister Imran Khan has said that his government would investigate all the citizens mentioned in the Pandora Papers, hours after over 700 Pakistanis, including some ministers and key members of his inner circle, were listed in the leaks following an investigation uncovering financial secrets held by high-profile individuals.