Multi-agency group on Panama leak to probe Paradise Papers

The investments appear among a leak of 13.4 million files from the two firms and company registries of 19 tax havens

A multi-agency group (MAG) probing the Panama Papers leak will look into the 'Paradise Papers' on financial holdings abroad that list a number of 714 Indian individuals and entities, official sources said today.

The sources said the MAG, constituted in April last year to investigate the legality of money stashed in offshore entities by Indians named in the Panama Papers, would probe the latest disclosure made by the International Consortium of Investigative Journalists (ICIJ).

The MAG comprises officials from the Central Board of Direct Taxes (CBDT), the Income Tax Department, the Enforcement Directorate (ED), the Financial Intelligence Unit and the RBI among