SC seeks Centre’s reply on plea for CBI probe

The Supreme Court on Monday sought a response from the Centre on a plea, seeking CBI inquiry against Indian offshore bank account holders named in the Panama papers. A Bench of justices Dipak Misra and Shiva Kirti Singh issued notices to the Centre and the CBI on a petition filed by advocate ML Sharma.

A Multi Agency Group (MAG) of various investigative agencies has been formed by the government to go into the disclosures made in the list, which includes about 500 Indian entities.

The Panama Papers leaks contain an unprecedented amount of information, including more than 11 million documents covering 2,10,000 companies in 21 offshore jurisdictions. Each transaction spans different jurisdictions and may involve multiple entities and individuals. The petition also sought a CBI probe against the Indian offshore account holders and stock market regulators under the supervision of the Supreme Court.