In Brief
A public interest petition sought directions to the CBI to investigate Indian offshore account holders named in the Panama Papers and to register FIRs against SEBI officials. The petitioner alleged that concerned authorities had not acted on Panama Papers disclosures and that SEBI had failed in its regulatory duty. The Court found that a Special Investigation Team (SIT) constituted under its earlier orders already had adequate terms of reference covering investigations of unaccounted foreign monies. A Multi Agency Group was coordinating investigations with reports being submitted to the SIT. The Court declined to give further directions as the existing institutional framework adequately addressed the petition's concerns, and disposed of the matter."
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