The agencies which were probing Panama Leaks will now be reconstituted to monitor probe and take swift action on a Paradise Papers list containing the name of Indians who have financial holdings in abroad, said the Finance Minister Arun Jaitley.
Finance Minister made the announcement hours after the release of the first set of Indian corporates in the ongoing investigation by The Indian Express in collaboration with the International Consortium of Investigative Journalists (ICIJ) and German newspaper Suddeutsche Zeitung.
Quoting The Indian Express, the publication “was a great development because it shows that (now) nothing remains a secret,” said Finance Minister Arun Jaitley speaking to The Indian Express. “With this, the secrecy of tax havens and transactions done through them have been smashed. The worldwide publication also shows that those who think they are indulging in what they think are undercover financial transactions are highly mistaken. What has happened (the publication of the Paradise Papers) is a very good development for India and this will further encourage cooperation between countries on financial matters at an international level. It is a step towards further Group headed by CBDT with ED, RBI and FIU will probe Paradise Papers transparency and cooperation.”
Jaitley ordered the probe and promise ‘action against all’ who will be found guilty.
However, no development has been observed in Panama paper leaks case even after the 18 months of the first publication of 11.5 million leaked documents.
Despite the fact, Amitabh Bachchan who was also named in Panama Paper tax haven case, appointed as Brand Ambassador of GST by the government who claim of waging war against corruption.
Maulana Abul Kalam Azad, also known as Maulana Azad, was an eminent Indian scholar, freedo…