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Every bit of 'Panama Papers' being investigated: Jaitley

Finance Minister Arun Jaitley says every bit of ‘Panama Papers’ which point toward offshore firms set up by more than 500 Indians, will be investigated

Policy Pulse
Publish Date: Apr 7 2016 3:37PM | Updated Date: Apr 8 2016 11:12AM

Every bit of 'Panama Papers' being investigated: Jaitley

Finance Minister Arun Jaitley said every bit of ‘Panama Papers’  which point toward offshore firms  set up by more than 500 Indians, will be investigated.

 
"In last three days we have formed a group. We are analysing each and every account to find out what is legal and what is illegal," Jaitley said in an interview to ETV News Network.
 
"Those who are having legal accounts, they need not worry and those having illegal accounts won't get sleep at night," the finance minister said.
 
For four days now the media around the world has been carrying stories on people with offshore firms, as part of the expose by the International Consortium of Investigative Journalists (ICIJ) and over 100 global media organisations, dubbed the ‘Panama Papers’.
 
It is based on millions of leaked documents of a Panama law firm Mossack Fonseca, which helped in setting up these companies. But Indian authorities have also said not every off-shore company opened by an Indian need be illegitimate.