Indian government announces probe into Pandora Papers

• Indian govt orders probe into various agencies, which will be headed by the country's Central Board of Direct Taxes.
• Indian govt says it would take necessary action against those named in papers in accordance with the law.
• Probe mentions names of 300 Indians for owning offshore companies.

NEW DELHI: The Indian government has announced an investigation into the Pandora Papers after several Indian businessmen and a prominent military man, among others, were named in the leaks, Geo News reported Tuesday.

Per the report, the Indian government has ordered a probe into various agencies, which will be headed by India's Central Board of Direct Taxes (CBDT).

According to the Indian Ministry of Finance, the investigation into the Pandora Papers case will involve the Enforcement Directorate, the Reserve Bank of India, and the Finance Intelligence Unit.

The statement said the government had taken note of the Pandora Papers revelations and would take necessary action in accordance with the law.

According to Indian media, the Pandora Papers include the names of the former head of the military agency Lieutenant General (retd) Rakesh Kumar Lomba and his son.

The owners of the Indian Premier League's (IPL) team Rajasthan Royals and Kings XI Punjab have also turned out to be owners of offshore companies.

The Pandora Papers also mentions Indian businessman Pramod Mittal, as well as a family that runs a private hospital in Delhi. Per the probe, the said family owns an offshore company worth $35 million. 

It is believed that the Pandora Papers include the names of 300 Indians whose offshore companies and other assets have come to light.

Featured image courtesy: AFP