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

70 words that define India, why Doklam stand-off won’t lead to a war, and more

As India celebrates 70 years of freedom, Governance Now looks back and picks 70 words – or phrases, buzzwords, slogans, events – that best define this ancient nation and young democracy. Here, you will find much to be proud of, much tinged with pangs of nostalgia. Then there are entries that

A dose of PPP in healthcare is what the doctor recommends

Dr Kenneth E Thorpe, a professor of health policy and management at Emory University in the US and also the executive director of Partnership to Fight Chronic Diseases (PFCD), says that the government alone cannot do everything. “They don’t have the resources and capacity. So we have to fin

EESL signs MoU with oil companies for energy saving appliances

Energy Efficiency Services Limited (EESL), a joint venture company of PSUs of ministry of power, signed an agreement with oil marketing companies (OMCs) of ministry of petroleum and natural gas for distribution of energy efficient appliances under the flagship Unnat Jeevan by Affordable LEDs and applianc

Jammu airport’s upgraded terminal building inaugurated

Union minister for civil aviation, P Ashok Gajapathi Raju inaugurated the upgraded passenger terminal building of Jammu airport.   Notably, Jammu airport belongs to the Indian Air Force, and airports authority of India (AAI) maintains a civil enclave for civil aircraft operat

Election Commission shows it has spine

The election commission has become increasingly assertive in the past few months, showing its mettle in times of electoral challenges.   Weeks after rooting from EVMs and just days after the poll panel declared votes cast by two rebel Congress legislators in the Rajya Sabha e

Is Amit Shah`s blueprint for 350-plus seats in 2019 Lok Sabha elections achievable?

Is Amit Shah`s blueprint for 350-plus seats in 2019 Lok Sabha elections achievable?



Video

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter