Black money list to be published by the government

Prosecution proceedings have been initiated, says the finance minister

GN Bureau | February 9, 2015


#black money   #swiss leaks   #swiss bank account holders  

The government is expected to disclose the names of 60 individuals and Indian entities as prosecution proceedings have been initiated against them.

Speaking to the media on Monday, finance minister Arun Jaitley said that assessment has already been completed for 350 account holders' while the remaining is expected to be completed by  next month end. He said that a prosecution has been launched against 60 people who allegedly had more than Rs 1500 crore  in illegal foreign accounts.

Those who figure in prosecution list include some corporates, business houses and individuals as the income tax department has completed its probe and filed prosecution complaints against these entities, on the directions of the Special Investigation Team (SIT).

The SIT, headed by retired Supreme Court Judge Justice MB Shah, had said in its last report to the government and the Supreme Court in December 2014 that the black money holders names in HSBC Geneva list will be taken to their logical conclusion soon.

In December last, the SIT had submitted a report to the Supreme Court which revealed that persons on the HSBC list held Rs. 4,479 crores in Swiss banks.

In an official statement released by the SIT, it had said that out of 628 names on the HSBC list received from France, 201 are either non-residents or non-traceable, leaving 427 persons' cases as actionable cases.

The Supreme Court had directed the Centre to ensure that the ongoing probe on those suspected of stashing black money in bank accounts abroad is completed by March 2015.

Recovering the black money stashed abroad was also a prominent topic in the ruling Bharatiya Janata Party's election manifesto for the Lok Sabha polls.

Comments

 

Other News

Music is universal. It has no language: Vani Jairam

Vani Jairam’s childhood dream of becoming a playback singer was realised when veteran film music composer Vasant Desai gave her the opportunity to sing Bole Re Papi Hara and two other songs in the movie Guddi. After that, the multilingual singer went on to sing for eminent music per

Should there be death penalty for those involved in lynching?

Should there be death penalty for those involved in lynching?

Battle over cattle, Delhi govt schools lead the way and, why we must return to Gandhi & Tagore

On May 23 this year, the ministry of environment issued ‘Rules on prevention of cruelty to animals (regulation of livestock market)’ with the purported aim of regulating animal markets. When one reads the rules – notwithstanding the lame efforts from union ministers to issue clarificati

BEML unveils 9 MW capacity windmill park

  BEML, a mini ratna category-1 enterprise of the defence ministry, has set a target of using 100 percent renewable energy for its own consumption.   In this connection, BEML’s 9 MW Windmill Park installed at Bagalkot District in Karnataka was recently

BHEL registers increase in intellectual capital

  Bharat Heavy Electricals Limited (BHEL), a Maharatna enterprise, has recorded nearly 14 percent growth in its intellectual capital in 2016-17 fiscal. During the year, a record 508 patents and copyrights were filed by the company, translating into filing of nearly two patents/copyrights

NALCO partners with CII, Odisha for outreach programmes on GST

  National Aluminium Company Limited (NALCO) has joined hands with the Confederation of Indian Industries (CII), Odisha, to organise outreach programmes for industries and other stakeholders on GST implementation.   Series of interactive programmes are being



Video

पाकिस्तानी सेना कैमरे में कैद करना चाहती थी ये हमला

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter