Supreme Court rules out forming a Special Investigation Team to look into the Panama Papers leak

The Supreme Court on Monday said there was no need for a separate Special Investigation Team to look into alleged offshore accounts of Indians exposed in the Panama papers leak, PTI reported. The court said a Multi-Agency Group set up by the government was already looking into it.

A bench of Justice AK Goel and Justice UU Lalit said the Multi-Agency Group, which has officers from the Central Board of Direct Taxes, Reserve Bank of India, Enforcement Directorate and Financial Intelligence Unit, is “already like a Special Investigation Team”. “What is the need to form a separate SIT?” the bench said.

The petitioner advocate ML Sharma told the court that an SIT should be formed for a fair investigation, as RBI rules and the Foreign Exchange Management Act were allegedly violated. He said seven reports had been filed in the Supreme Court in sealed covers but the government was yet to

... read more at: https://scroll.in/latest/853519/supreme-court-rules-out-forming-a-special-investigation-team-to-look-into-the-panama-papers-leak

by