Panama Papers: SC seeks Centre's response on plea for CBI inquiry into Indians named

The Supreme Court has a sought response from the Centre on a plea seeking CBI inquiry against Indian offshore bank account holders named in the Panama papers.

The apex court has also issued a notice to the Reserve Bank of India and the Securities Exchange Board of India seeking a CBI probe against all those named in the Panama Papers. 

A bench comprising justices Dipak Misra and Shiva Kirti Singh issued notices to Centre and the CBI on the petition filed by advocate M L Sharma.

A Multi Agency Group (MAG) of various investigative agencies has been formed by the government to go into the disclosures made in the list which includes about 500 Indian entities.

The Panama Papers leaks contain an unprecedented amount of information, including more than 11 million documents covering 2,10,000 companies in 21 offshore jurisdictions. Each transaction spans different jurisdictions and may involve multiple entities and individuals.