Cases pertaining to ‘Pandora Papers’ to be investigated by Indian Government

Picture courtesy: Times of India

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.

In the report released Sunday by the International Consortium of investigative journalists. It is 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 names that the papers claim to expose include 330-odd politicians of more than 90 countries-from people in Russian President Vladimir Putin’s inner circle to close aides of Pakistan Prime Minister Imran Khan.

There are 380 Indians on the list of the global elite who have been exposed for ringfencing their wealth through shadowy financial transactions. The list includes big names like Anil Ambani, Sachin Tendulkar and Jackie Shroff. The government on Monday directed investigations to be carried out in relation to Pandora papers leak. The investigation will be carried out by a multi-agency group headed by central board of direct taxes (CBDT) chairman.

Pakistan Prime Minister Imran Khan promised to investigate all the citizens mentioned in the leaks.