Multi Agency Group, which is headed by the Central Board of Direct Taxes Chairman, will be investigating the cases pertaining to Pandora Papers. “The Government has directed today that, investigations in cases of Pandora Papers leaks will be monitored headed by the Chairman, CBDT, having representatives from CBDT, Enforcement Directorate, Reserve Bank of India and Financial Intelligence Unit,” the official spokesperson of CBDT said.

Pandora Papers expose uncovered financial assets of rich individuals across the world, including hundreds of wealthy Indians, were unearthed. However, many of the Indians have rejected allegations of any misdoings.

The ‘Pandora Papers’ was obtained by the International Consortium of Investigative Journalists (ICIJ). More than 300 Indian names are part of the list.

In the list of Indians that are named in the Pandora Papers are: Anil Ambani, Vinod Adani, Jackie Shroff, Kiran Mazumdar-Shaw, Niira Radia, Sachin Tendulkar and Satish Sharma, among others.

Rights group Oxfam India called for immediate action by authorities. They also asked for the tax havens to be abolished following the expose.

“Tax havens cost governments around the world USD 427 billion each year. Developing countries are being hardest hit, proportionately. Corporations and the wealthiest individuals that use tax havens are outcompeting those who don’t. Tax havens also help crime and corruption to flourish,” Oxfam India CEO Amitabh Behar said.

The ICIJ involves at least 150 media outlets worldwide, including ‘The Indian Express’ in India and claims to have obtained as many as 12 million documents from 14 companies in offshore tax havens.

“People linked by the secret documents to offshore assets include India’s cricket superstar Sachin Tendulkar, pop music diva Shakira, supermodel Claudia Schiffer and an Italian mobster known as ‘Lell the Fat One’,” ICIJ said in its report.

“Tendulkar’s attorney said the cricket player’s investment is legitimate and has been declared to tax authorities. Shakira’s attorney said the singer declared her companies, which the attorney said do not provide tax advantages. Schiffer’s representatives said the supermodel correctly pays her taxes in the UK, where she lives,” it noted.

The ‘Pandora Papers’ have uncovered financial secrets of current and former world leaders, politicians and public officials in 91 countries and territories.