Panama papers case: ED to issue FEMA notices to 46 Indian entities for possible violations
7 years, 3 months ago

Panama papers case: ED to issue FEMA notices to 46 Indian entities for possible violations

Firstpost  

The Enforcement Directorate is set to issue fresh notices to more than 45 Indian entities named in the Panama Papers list New Delhi: The Enforcement Directorate is set to issue fresh notices to more than 45 Indian entities named in the Panama Papers list on charges of possible forex law violations, official sources said on Thursday. The agency, they said, is investigating about 46 “actionable” cases of Indians on this global leaks list for possible violations under the Foreign Exchange Management Act. The Central Board of Direct Taxes, the policy-making body of the tax department, has recently said investigations in the Panama Papers till now has resulted in detection of undisclosed wealth of Rs 792 crore so far and the probe in these cases is on in “full swing”. The I-T Department has recently slapped criminal charges under the new anti-black money Act and has launched fresh assessment of stashed offshore income against over half-a- dozen Indian entities named on the list.

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History of this topic

Bengaluru firm raided by ED in FEMA violations related to Panama Paper Leaks
1 year, 9 months ago

Bengaluru firm raided by ED in FEMA violations related to Panama Paper Leaks

India TV News  

Enforcement Directorate launched a search operations at the premises of a Bengaluru-based firm and its chief regarding a tax evasion case. In a case that was registered under the provisions of the Foreign Exchange Management Act, 1999, the search operations were carried out at Shree Parvathi Tex Pvt Ltd. and its director, Rajendra Patil. The ED statement said that the …

Aishwarya Rai Bachchan summoned by ED in Panama Papers case
3 years, 3 months ago

Aishwarya Rai Bachchan summoned by ED in Panama Papers case

India Today  

Aishwarya Rai Bachchan has been summoned to appear before the Enforcement Directorate in the Panama Papers case. Aishwarya Rai Bachchan's name featured in the list of 500 Indians who were named in the massive leak of 11.5 million tax documents exposing their secret offshore dealings. Earlier in July, Pakistan Prime Minister Imran Khan had alleged that he was offered Rs …

Panama papers: Multi agency group looking into fresh revelations, says finance ministry
6 years, 9 months ago

Panama papers: Multi agency group looking into fresh revelations, says finance ministry

Firstpost  

The finance ministry on Thursday said the fresh revelations under the ‘Panama Paper Leaks’ are being looked into by the Multi Agency Group, which includes the tax department and the Reserve Bank New Delhi: The finance ministry on Thursday said the fresh revelations under the ‘Panama Paper Leaks’ are being looked into by the Multi Agency Group, which includes the …

Panama Papers return with more stings, all India needs to know
6 years, 9 months ago

Panama Papers return with more stings, all India needs to know

India Today  

Panama Papers are back. Fresh documents from the Panama Papers contain names of some big Indian business magnets who did not figure in the 2016 leak. Those Indian nationals whose links to offshore entities have been confirmed by the fresh leak include: Shiv Vikram Khemka - SUN group patriarch Nand Lal Khemka's son Actor Amitabh Bachchan Jehangir Sorabjee - the …

Panama Papers case: ED seizes assets worth Rs 10.35 crore of former IPL chairman Chirayu Amin
7 years, 3 months ago

Panama Papers case: ED seizes assets worth Rs 10.35 crore of former IPL chairman Chirayu Amin

Firstpost  

The ED said it has seized mutual funds valued at Rs 10.35 crore under the FEMA law of a company “controlled” by businessman and former IPL Chairman Chirayu Amin New Delhi: The Enforcement Directorate on Saturday said it has seized mutual funds valued at Rs 10.35 crore under the FEMA law of a company “controlled” by businessman and former IPL …

Panama Papers: ED seizes assets linked to former IPL chairman Chirayu Amin
7 years, 3 months ago

Panama Papers: ED seizes assets linked to former IPL chairman Chirayu Amin

India TV News  

The Enforcement Directorate on Saturday said it has seized mutual funds valued at Rs 10.35 crore under the FEMA law of a company "controlled" by businessman and former IPL Chairman Chirayu Amin in the Panama Papers case. The central probe agency said it seized mutual funds of Whitefield Chemtech Private Limited, "which is controlled by Amin and his family", under …

Panama Papers: ED seizes mutual funds worth Rs 10.35 crore of company 'controlled' by ex-IPL chief Chirayu Amin
7 years, 3 months ago

Panama Papers: ED seizes mutual funds worth Rs 10.35 crore of company 'controlled' by ex-IPL chief Chirayu Amin

Firstpost  

The Enforcement Directorate said it has seized mutual funds valued at Rs 10.35 crore under the FEMA law of a company “controlled” by Chirayu Amin. New Delhi: The Enforcement Directorate on Saturday said it has seized mutual funds valued at Rs 10.35 crore under the FEMA law of a company “controlled” by businessman and former IPL Chairman Chirayu Amin in …

Panama Papers probe: Bollywood actors to be quizzed by ED before December 31
7 years, 3 months ago

Panama Papers probe: Bollywood actors to be quizzed by ED before December 31

India Today  

All corporate entities and individuals, including Bollywood stars like the Bachchans and Ajay Devgn, named in the Panama Papers Leak will be questioned by the Enforcement Directorate by the end of this year, according to senior officials. A deadline has been set by the ED to complete the investigation in all 46 Panama Papers cases. Earlier, the Central Board of …

As Paradise Leak Rages, What Have Agencies Done on Panama so Far?
7 years, 4 months ago

As Paradise Leak Rages, What Have Agencies Done on Panama so Far?

The Quint  

In April 2016, the Panama Papers hit headlines when 11.5 million secret files of a Panamanian law firm, Mossack Fonseca, were leaked. Almost a year and a half later, ICIJ has conducted another global investigation into the offshore activities of some powerful people in tax havens - the Paradise Papers. Around 714 Indians are named in the Paradise Papers, including …

Panama Papers: SC asks govt whether SIT needed to probe Indians revealed in leak
7 years, 11 months ago

Panama Papers: SC asks govt whether SIT needed to probe Indians revealed in leak

Firstpost  

The Supreme Court on Tuesday asked the government whether a Special Investigation Team should be constituted to probe the offshore accounts of Indians revealed in the Panama paper leaks. New Delhi: The Supreme Court on Tuesday asked the government whether a Special Investigation Team should be constituted to probe the offshore accounts of Indians revealed in the Panama Papers leak. …

Panama papers case: SC asks Centre to file 6 reports of Multi-Agency Group
8 years ago

Panama papers case: SC asks Centre to file 6 reports of Multi-Agency Group

Firstpost  

Solicitor General appearing for the Centre, told the court that the bench should first go through reports of the MAG and thereafter decide whether it could be shared with the petitioner New Delhi: The Supreme Court on Tuesday asked the Centre to place before it in a sealed cover all the six reports of the Multi-Agency Group constituted by the …

Panama Leak: SC Seeks Report From Multi-Agency Probe Team
8 years ago

Panama Leak: SC Seeks Report From Multi-Agency Probe Team

Live Law  

The Supreme Court today asked the Centre to file within four weeks in a sealed cover the report of the Multi Agency Investigation Team set up in April last year to probe the panama paper leak caseWith 500 Indians being named in leaked 'Panama Papers' for alleged offshore holdings, government had in April last year formed the group to monitor …

Enforcement Directorate begins probing 11 Panama Papers firms
8 years, 1 month ago

Enforcement Directorate begins probing 11 Panama Papers firms

Deccan Chronicle  

Hyderabad: The Panama Papers are back here to haunt city industrialists. Following directions issued by the Centre, the Enforcement Directorate has begun a probe into 11 companies named in the Panama Papers, the global media investigation into alleged tax evasions which has brought 415 Indians under the scanner of investigating agencies. Entrepreneur Moturi Srinivas Prasad, who was secretary of the …

Panama leaks probe: multi-agency group submits reports to govt.
8 years, 9 months ago

Panama leaks probe: multi-agency group submits reports to govt.

The Hindu  

The multi-agency group probing the Panama papers leaks, which has named around 500 Indians who have allegedly stashed money in offshore entities, has submitted three reports to the government. The Central Board of Direct Taxes has also been updating the Special Investigation Team, set up under the directions of the Supreme Court to monitor cases related to black money, according …

Panama papers probe: Multi-agency group submits three reports to govt
8 years, 9 months ago

Panama papers probe: Multi-agency group submits three reports to govt

Firstpost  

Multi-agency group probing Panama papers, which named around 500 Indians who have allegedly stashed money in offshore entities, has submitted three reports. New Delhi: The multi-agency group probing Panama papers, which named around 500 Indians who have allegedly stashed money in offshore entities, has submitted three reports to the government. The Central Board of Direct Taxes has also been updating …

37,000 India files in new Panama papers released
8 years, 10 months ago

37,000 India files in new Panama papers released

The Hindu  

The International Consortium of Investigative Journalists late on Monday released 2.6 terabyte of >Panama papers data on over 11.5 million financial and legal records, including about 37,000 files related to India. We do not intend to suggest or imply that any persons, companies or other entities included in the ICIJ Offshore Leaks Database have broken the law or otherwise acted …

Govt. Constitutes SIT on Panama Papers Leaks
8 years, 11 months ago

Govt. Constitutes SIT on Panama Papers Leaks

Live Law  

The Government has constituted a Multi-Agency Group on 4th April 2016, inter alia, for facilitating co-ordinated and speedy investigation in the cases of Indian persons allegedly having undisclosed foreign assets and whose names are reportedly included in Panama Papers leaks. The Group consist of the officers of Investigation Division of the Central Board of Direct Taxes, Foreign Tax & Tax …

Govt. Constitutes SIT on Panama Papers Leaks
8 years, 11 months ago

Govt. Constitutes SIT on Panama Papers Leaks

Live Law  

The Government has constituted a Multi-Agency Group on 4th April 2016, inter alia, for facilitating co-ordinated and speedy investigation in the cases of Indian persons allegedly having undisclosed foreign assets and whose names are reportedly included in Panama Papers leaks. The Group consist of the officers of Investigation Division of the Central Board of Direct Taxes, Foreign Tax & Tax …

Panama Papers: US launches probe into offshore scandal
8 years, 11 months ago

Panama Papers: US launches probe into offshore scandal

Al Jazeera  

The United States Justice Department has launched a criminal investigation into offshore financial dealings exposed by the Panama Papers – leaked documents that showed money laundering and tax avoidance schemes by the wealthy and powerful. “The US Attorney’s Office for the Southern District of New York has opened a criminal investigation regarding matters to which the Panama Papers are relevant,” …

Income Tax serves notices to nearly 50 people who figured in leaked Panama documents
8 years, 11 months ago

Income Tax serves notices to nearly 50 people who figured in leaked Panama documents

India TV News  

New Delhi: Income Tax department has dispatched detailed questionnaires to nearly 50 people whose name were appeared in the recently leaked confidential documents of Panamanian law firm Mossack Fonseca. The first part seeks clarification on whether they are the persons named in documents and whether they gave comments attributed to them on the offshore entities listed against their names. A …

Panama Papers: Strict investigation going on, says Jayant Sinha
8 years, 11 months ago

Panama Papers: Strict investigation going on, says Jayant Sinha

India TV News  

New Delhi: A strict investigation into 'Panama Papers' is on to find out if illegal activities have taken place in overseas Indian accounts, while full force of law has been applied to deal with 'wilful default' cases like that of Vijay Mallya, the Finance Ministry said today. Government has already constituted a multi-agency group including representatives of CBDT, Financial Intelligence …

Panama Papers Leaks: PIL filed in Bombay HC demanding CBI probe
8 years, 11 months ago

Panama Papers Leaks: PIL filed in Bombay HC demanding CBI probe

Live Law  

A PIL has been filed at the Aurangabad Bench of Bombay High Court, demanding constitution of an independent investigating body, and a criminal investigation by CBI into the Panama Papers leaks. As an interim measure, it has demanded that all the documents pertaining to the 500 persons be called from the custody of Indian Express to the Court in a …

Won't be 'scapegoat' for papers scandal: Panama govt
8 years, 11 months ago

Won't be 'scapegoat' for papers scandal: Panama govt

India TV News  

Panama City: The Panamanian government said that it would not accept the country being used as a "scapegoat" for the apparent financial misdeeds detailed in the Panama Papers. Panama "rejects and regrets" that anyone should want to "trample" its good name, "conveniently forgetting the participation in offshore operations of institutions and individuals of other nations", Efe news agency quoted Aleman …

Panama papers: Multi-agency team to investigate 'illegal' money in foreign accounts
8 years, 11 months ago

Panama papers: Multi-agency team to investigate 'illegal' money in foreign accounts

Firstpost  

With 500 Indians being named in leaked ‘Panama Papers’ for alleged offshore holdings, government on Monday formed a multi-agency group to monitor exposes in this regard and vowed to take action against all “unlawful” accounts held abroad. Already 52 prosecutions have been filed by Income Tax authorities.” Jaitley further said that in view of the commitment of the Central Government …

'Panama Papers': Black money SIT to investigate list
8 years, 11 months ago

'Panama Papers': Black money SIT to investigate list

ABP News  

New Delhi: The Special Investigation Team on black money today said it will investigate thoroughly the reported secret list of about 500 prominent Indians including actors, politicians and businessmen who have allegedly stashed money in offshore entities in tax haven Panama. The latest list, after similar ones came in the the past like 'Swiss leaks' and the HSBC-list related to …

‘ED probing any FEMA violation by Bharti-Walmart’
11 years, 11 months ago

‘ED probing any FEMA violation by Bharti-Walmart’

The Hindu  

Government on Tuesday said Directorate of Enforcement is investigating alleged violation of foreign exchange regulation by cash and carry chain Bharti-Walmart. “On the basis of a reference received from Reserve Bank of India, ED has taken appropriate action to investigate alleged contravention of the provisions of Foreign Exchange Management Act 1999 by Bharti-Walmart,” Minister of State for Finance Namo Narain …

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