<h1>India Forms Multi-Agency Group to Probe Panama Papers: Focus on Undisclosed Foreign Assets and International Cooperation.</h1> The government established a Multi-Agency Group on April 4, 2016, to investigate Indian individuals allegedly holding undisclosed foreign assets mentioned in the Panama Papers leaks. The group includes officers from the Central Board of Direct Taxes, Enforcement Directorate, Financial Intelligence Unit, and the Reserve Bank of India, led by the Member (Investigation) of CBDT. The investigation is in its preliminary stages, with a focus on international cooperation for a swift inquiry. The International Consortium of Investigative Journalists cautioned that not all individuals named are involved in wrongdoing, as there can be legitimate reasons for offshore companies.