1. SC asks government for probe report on Panama Papers leak case

SC asks government for probe report on Panama Papers leak case

The Supreme Court on Tuesday asked the government to submit all the six investigation reports of the Multi-Agency Group (MAG) constituted by it to probe the Panama papers case in a sealed cover within four weeks.

By: | New Delhi | Published: March 8, 2017 5:56 AM
Supreme Court, Ram Janambhoomi, Babri Masjid case, Uma Bharati, Murli Manohar Joshi, Vishnu Hari Dalmia The direction came after the Centre told a bench headed by Justice Dipak Misra that the MAG group has completed the sixth report in its ongoing investigation and all the six reports can be submitted before the court. (PTI)

The Supreme Court on Tuesday asked the government to submit all the six investigation reports of the Multi-Agency Group (MAG) constituted by it to probe the Panama papers case in a sealed cover within four weeks.

The direction came after the Centre told a bench headed by Justice Dipak Misra that the MAG group has completed the sixth report in its ongoing investigation and all the six reports can be submitted before the court. The MAG was constituted by the government to investigate the off-shore accounts held by 424 Indians.

Additional Solicitor General PS Narsimha, who appeared for the government, said the multi-agency group had officials from CBI, Enforcement Directorate, RBI, Sebi and Central Board of Direct Taxes.

A three-judge bench headed by Justice Dipak Mishra was hearing a PIL seeking a court-monitored probe into Indian offshore accounts as revealed by Panama Papers leak.

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The PIL had sought a court-monitored CBI probe into the Panama papers leak which contained an unprecedented amount of information, including more than 11 million documents covering over two lakh companies in 21 offshore jurisdictions.

The petition had alleged that Panama papers included the names of nearly 500 Indians, including celebrities and industrialists, who have allegedly parked funds in offshore accounts in transactions brokered by the law firm.

Advocate ML Sharma in his PIL had also sought a direction to seize entire investments and gains made through participatory notes in India.

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