The Special Investigation Team (SIT) on black money set up under the chairmanship of Justice (retired) M B Shah will thoroughly investigate the list of around 500 individuals who have been linked to offshore companies, floated by Panama law firm Mossack Fonseca, in tax havens across the world.
After the revelation of the first set of names in The Indian Express Monday as part of its ongoing investigation in The Panama Papers, SIT chairman Shah told reporters, “Investigations are being carried out. We are going to investigate it (the list) thoroughly.”
While the government on Monday announced setting up a special multi-agency group, the vice-chairman of the SIT, Justice (retd) Arijit Pasayat, said the SIT had asked agencies such as the Enforcement Directorate, IT Department and the Directorate of Revenue Intelligence to make an assessment of the list as revealed in The Panama Papers and prepare a report.
Speaking to The Indian Express, Pasayat said, “As of now we have read about the accounts in the newspaper. But whatever needs to be done in terms of action will be done as expeditiously and quickly as possible without waste of time.”
He also said that the committee wants to know the details of each case. “The SIT did not have these reports. Maybe, the investigative agencies had. So, once they submit a report to us then we can take the required action,” Pasayat said.