India: RBI and I-T refer firms, people with illegal offshore links to ED for action

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August 29, 2016

THE Reserve Bank of India (RBI), has referred cases of violations of the law by at least 20 individuals and firms linked to offshore entities set up by Panamanian law firm Mossack Fonseca to the Enforcement Directorate (ED) for investigation, sources familiar with the development told The Indian Express. The Income-Tax department, too, has referred some cases to the agency.