Will investigate offshore dealings leaked by 'Pandora Papers': Centre

A multi-agency group headed by the chief of Central Board of Direct Taxes (CBDT), and representatives from the Enforcement Directorate, Reserve Bank of India and the Financial Intelligence Unit will probe the reports and follow up relevant leads.

"The relevant investigative agencies would undertake investigation in these cases and appropriate action would be taken in such cases as per law," the Ministry of Finance said in a statement.

"With a view to ensure effective investigation in these cases, the Government will also proactively engage with foreign jurisdictions for obtaining information in respect of relevant taxpayers/entities," the statement added.

The documents uncovered financial secrets of 35 current and former world leaders, more than 330 politicians and public officials in 91 countries and territories, and a global lineup of fugitives, con artists and murderers. More than 650 journalists participated in the investigation.

"The leaked records reveal that many of the power players who could help  bring an end to the offshore system instead benefit from it – stashing assets in covert companies and trusts while their governments do little to slow a global stream of illicit money that enriches criminals and impoverishes nations," the International Consortium of Investigative Journalists (ICIJ) revealed.

Names of prominent Indian personalities including businessman Anil Ambani and cricket legend Sachin Tendulkar have also found place in the Pandora Papers.

"People linked by the secret documents to offshore assets include India’s cricket superstar Sachin Tendulkar, pop music diva Shakira, supermodel Claudia Schiffer and an Italian mobster known as 'Lell the Fat One.," the investigation revealed.

The documents show that Tendulkar, along with family members, owned an offshore entity in the British Virgin Islands (BVI) that was liquidated in 2016 shortly after the leak of similar sets of documents known as 'Panama papers', reported the Indian Express.

Tendulkar’s attorney however said the cricket player’s investment is legitimate and has been declared to tax authorities, the ICIJ stated.

"At least $11.3 trillion is held “offshore,” according to a 2020 study by the Paris-based Organization for Economic Cooperation and Development," ICIJ stated.

The secret documents exposed offshore dealings of the King of Jordan, the presidents of Ukraine, Kenya and Ecuador, the prime minister of the Czech Republic and former British Prime Minister Tony Blair, claimed the consortium.

The files also detail  financial activities of Russian President Vladimir Putin’s “unofficial minister of propaganda” and more than 130 billionaires from Russia, the United States, Turkey and other nations.

Names of over 700 Pakistanis have come up in the latest leak called Pandora Papers, which features a huge tranche of leaked data on offshore companies that is larger in size and scope than the Panama Papers.