After the IT and RBI, the ED is the third agency to actively join the Panama Papers probe. Following the global expose led by the International Consortium of Investigative Journalists (ICIJ), The Indian Express and Suddeutsche Zeitung in April 2016, the government set up a Special Taskforce for a probe into the Panama Papers.
As reported by The Indian Express on November 15, 2016, as many as 415 Indians are under the scanner as part of the probe. Till that date, 198 references had been sent by the Foreign Tax and Tax Research (FTTR) unit to jurisdictions such as the British Virgin Islands (BVI), Bahamas, Seychelles and Cyprus. At least 184 people are learnt to have admitted to having incorporated the named offshore entities with Mossack Fonseca.
Written & Published in indianexpress.com/