Notices sent to 100 named in Panama papers: Justice Pasayat

Cuttack: Justice Arijit Pasayat, vice-chairman of Supreme Court appointed special investigation team (SIT) on black money, on Wednesday said of the 500 names of Indians which have recently appeared in the Panama Papers for holding offshore bank accounts, one hundred have been served notices.

Pasayat informed this to media after chairing an SIT meeting here attended by several officials of the State and Centre.

“Inquiry is on about the infraction of law by those whose names have appeared in the Panama papers. Besides, notice is being sent to all in stages asking them to reply on specific queries. Based on the respondents’ explanation, the government will take necessary action. Of the 500, notice have been sent to about 100 persons so far. I have been informed that the respective departments have received some responses in this regard,” he stated.

Asked about possible action against these people, if they are found to have violated laws, he said legal procedure will be followed in all cases.

“Remarkable progress has been achieved in many cases…..It had come to our notice that huge amount of capitation fees were collected from students in educational institutions across the country. In this case, some are coming forward for cash settlements varying from Rs 20 crores to Rs 300 crores. It’s obvious that the impact has been positive,” Justice Pasayat said.

He parried questions on the probe on black money in Odisha.

Stressing co-ordination among the concerned departments, Justice Pasayat said; “There should be strict co-ordination among the investigating departments. Any laxity would lead to various problems. For instance, the police should not sit idle after seizing a huge amount of money from an individual. After the seizure, it must inform the Income Tax authorities for further investigation so that they could inquire it from tax evasion angle,” he maintained.

Officials who attended the meeting also stated that the meeting stressed on sharing of information among departments.

“Justice Pasayat reiterated that information must be shared among all to tackle a variety of cases,” Odisha Mines director Deepak Mohanty said.

Among others, officials of Enforcement Directorate, Crime Branch, Excise, Income Tax and Mines attended the meeting.