The Panama Papers probe in India has gathered pace with the Enforcement Directorate (ED) dispatching what is being described as “advisories” to over 100 people named in the global media investigation. Officials in ED told The Indian Express that over the past two months, they have sent 137 “advisories” under Section 37 of the Foreign Exchange Management Act (FEMA) to Indians named in the Panama Papers. Read | What is Panama Papers? After the IT and RBI, the ED is the third agency to actively join the Panama Papers probe. Following the global expose led by the International Consortium of Investigative Journalists (ICIJ), The Indian Express and Suddeutsche Zeitung in April 2016, the government set up a Special Taskforce for a probe into the Panama Papers.

Source: Indian Express February 20, 2017 21:45 UTC