Centre orders probe on PANAMA PAPERS
posted on Apr 5, 2016 @ 12:31PM
Within a day, Panama Papers seem to have become a household name in India. Almost 500 Indians were being alleged to have role in this scam which protects and channelize the black money. Though India has strictly mentioned that not more than 25,000$ can be invested annually overseas, most of the people in the list either seems to have misused or manipulated the rule.
Ranging from celebrities such as Amitabh Bachchan to politicians like Vladimir Putin, Panama Papers seems to have decoded the illegal assets of big shots from every nation and every field. Looking at the heat of the situation India has ordered a probe to investigate Indians who were listed in the ‘Panama papers.’ Various agencies such as Central Board of Direct Taxes and RBI would be a part of the team. As the government is facing criticism for not taking strict action against money laundering issues, MODI is keen to resolve the present issue as soon as possible.