Business
10:30, 07-Nov-2017
India orders investigation after Paradise Papers leak
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India on Monday formed a panel of government officials to investigate cases that figure in the so-called Paradise Papers, a trove of leaked documents about offshore investments of wealthy individuals and institutions.
Officials from government bodies and the central bank will carry out and monitor the investigation, the finance ministry said.
The leaked documents were obtained by Germany’s Sueddeutsche Zeitung newspaper and shared with the International Consortium of Investigative Journalists (ICIJ) and some media outlets. They include nearly 7 million loan agreements, financial statements, emails, trust deeds and other paperwork over nearly 50 years.
The Paradise Papers documents include nearly 7 million loan agreements, financial statements, emails, trust deeds and other paperwork from nearly 50 years at Appleby, a leading offshore law firm with offices in Bermuda and beyond.
India's tax authorities had obtained some of the offshore account information leaked through documents on Sunday and were conducting their own investigations into the dealings, reported India's economic times which involved four government leaders from the nation
Source(s): Reuters