Investigation Of Multilevel Agencies Started On Pandora Papers

Investigation of multilevel agencies started on Pandora Papers case, first meeting held last week.

Multi-Agency Group (MAG) on the Pandora Papers case has started a preliminary inquiry into the designated entities and individuals in this regard.

Its first meeting was held last week. The meeting of multilevel agencies was chaired by JB Mohapatra, Chairman, Central Board of Direct Taxes.

The meeting was attended by the Director of Enforcement (ED), Reserve Bank of India (RBI), and officials of the Financial Intelligence Unit (FIU).

Sources told the news agency that the multilevel agencies in their meeting discussed the leak of the Pandora Papers as reported by the International Consortium of International Journalists (ICIJ) on October 3, 2021.

“Out of 380 Indian names and entities, only a few have appeared in the media so far. MAG will speed up its investigation once the names of the rest of the Indian entities are released by the ICIJ.

It was decided in the meeting that MAG would seek information from countries concerned on Indian entities named in the Pandora Papers through the Automatic Exchange of Information (AEOI).

Investigation of multilevel agencies started: India can ask for information from the countries concerned.

Sources further said that MAG also has a platform of the Organization for Economic Cooperation and Development (OECD).

Where India can seek information from the countries concerned through the spontaneous exchange of information.

Let us tell you that the ‘Pandora Papers’, which have disclosed the financial assets of rich people around the world.

It includes the names of more than 300 wealthy Indians, including businessmen, and many Indians have dismissed allegations of wrongdoing.

The ‘Pandora Papers’, a leak of financial records in offshore tax havens, was obtained by the International Consortium of Investigative Journalists (ICIJ).

It is worth noting that in the crores of documents leaked in the name of Pandora Papers.

It has been claimed to expose the financial secrets of current and former leaders, officials, and celebrities of 91 countries including India.