Panama papers: SC seeks Centre's reply on plea for CBI inquiry

The Supreme Court today sought response from the Centre on a plea seeking CBI inquiry against Indian offshore bank account holders 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.