Govt has initiated probe against expose made by global organisation: FM
New Delhi: Finance Minister P Chidambaram on said an inquiry has been initiated against the individuals whose names appeared in a global report on the monies stashed in tax heaven.
"Yes. We have taken note of the names and inquiries have been put in motion in respect of the names that have been exposed", he said when asked whether the government has taken any action with regard to expose in connection with bank accounts in tax havens.
A worldwide media expose is claimed to have unearthed details of 2.5 lakh individuals and entities from more than 170 countries, including India, that evaded taxes by setting up companies in tax havens.
The International Consortium of Investigative Journalists (ICIJ), a body of newspersons from across the world, has reportedly found a trove of 2.5 million digital files, detailing "secrets of more than 1,20,000 offshore companies and trusts and nearly 1,30,000 individuals and agents".
On the sting operations carried out by Cobrapost alleging money laundering by some officials of ICICI Bank, Axis Bank and HDFC Bank, Chidambaram said the Reserve Bank is seriously looking into the issue and stern action will be taken by the government if any violation of tax law was found.
"RBI is seriously looking into the matter", he said, adding, "my officers have taken a look at ... Sting. They have drawn some conclusions, we are looking into it. If violation is found (with regard to tax laws), stern action will be taken".