multi-agency scrutiny +NEW DELHI: The government on Monday ordered aagainst entities named in the 'Paradise Papers' while also saying it had launched criminal prosecution against five Indians named in the 'Panama Papers'.The 'Paradise Papers' involves the latest set of names with a presence in foreign tax havens which has been unearthed based on an expose by the International Consortium of Investigative Journalists ( ICIJ ), which had last year released the 'Panama Papers' in which 426 Indians and those of Indian-origin had been named.The 'Paradise Papers' covers 714 Indians. "I have asked them to take cognisance of the reports and examine the details of the returns that have been filed. They will tally the details with the tax returns and, in cases where it is not matching, details will be sought," Chandra told reporters.The tax department said that the names of "only a few Indians (legal entities and individuals) have appeared so far" in the media. "Even the ICIJ website has not yet released the names and other particulars of all the entities. "The website of ICIJ suggests that information will be released in phases and structured data connected to the 'Paradise Papers' investigation will be released only in the coming weeks on its Offshore Leaks Database," CBDT said.Senior government offic ers said the probe into the 'Panama Papers, which involved 395 references to 28 countries, is progressing and assessment is expected to be completed over a two-year period.

Source: Times of India November 07, 2017 00:22 UTC