India orders investigation after Paradise Papers leak

Officials from government bodies and the central bank will carry out and monitor investigation

Reuters November 07, 2017


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.

As reported by Indian Express, India is in the top twenty countries represented in the latest leak, with a total of 714 individuals and groups whose data has been exposed. One of these, the company Sun Group, is noted as being Appleby’s second biggest client internationally, with 118 offshore entities. Famous personalities were also included in the list, with Amitabh Bachchan and film star Sanjay Dutt’s wife both making an appearance.

Amitabh Bachan, Vijay Mallya among 714 Indian names found in Paradise Papers

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.

Reuters has not independently verified the documents which relate to the affairs of individuals and institutions ranging from U.S. Commerce Secretary Wilbur Ross to Britain’s Queen Elizabeth and trading firm Glencore.


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