The center told parliament on Tuesday that multiple agencies are investigating Indians who allegedly hid their wealth overseas in the Pandora documents leaked in October this year.
The Ministry of Finance also submitted information on the amount of undisclosed income recovered so far from Indians associated with hidden offshore accounts through similar leaks (such as the Panama and Paradise papers).
“The media published some Indian names, which are said to be related to the Pandora file leak. The Indian government has realized this and placed the Pandora file leak under the protection of the Multi-Agency Team (MAG) in order to coordinate and speed up the investigation. The group is convened by the Chairman of the Central Direct Taxation Committee (CBDT), with the Enforcement Bureau (ED), Reserve Bank of India (RBI), Financial Intelligence Unit (FIU) of India (FIU) and the Foreign Taxation and Taxation Research Department of CBDT as its member institutions, “Financial Minister Pankaj said of Chaudhary. On October 3, the International Federation of Investigative Journalists (ICIJ) leaked 11.9 million documents, including the names of politicians, businessmen, and celebrities from more than 200 countries and regions. They are suspected of hiding foreign exchange and laundering money abroad. The list contains the names of more than 300 Indians, including top businessmen, sports icons and movie stars. Some Indians refuted allegations of financial misconduct and stated that their offshore accounts were legal. Over the years, some Indians have been named in similar leaks, such as the HSBC, Panama and Paradise documents issued by international journalists and whistle groups. Blower. .
The Ministry of Finance told the Parliament that in 2019-20, 10,370.47 crore of such undisclosed income was confiscated and 4,145.42 crore was confiscated in 2020-21. Pankaj Chaudhary stated: “The total undisclosed credits of entities associated with India found in Panama and Paradise Paper Leaks amounted to 20,353 crore.”
Earlier, the Ministry announced that it had discovered an undisclosed credit of approximately Rs 20,352 crore (as of September 15, 2021) during an investigation into the leaks of the Panama and Paradise papers.
Complete News Source : Hindustan Times
