Govt. hands over list of 627 names in black money case to SC

Govt. hands over list of 627 names in black money case to SC

NetIndian News Network

New Delhi, October 29, 2014

The Government today handed over a list of 627 names of Indian individuals or firms with foreign bank accounts, received by it as part of its investigations into illegal wealth allegedly stashed abroad by tax evaders and others, in a sealed cover to the Supreme Court.
The list pertained to entities with accounts in the HSBC's Geneva branch in Switzerland, details of which were part of data stolen by an employee of the bank and later given to the French government.
The French government later provided the list of names to the Government of India, at its request, in July 2011.
"The list contains 627 or 628 names," Attorney General Mukul Rohatgi told newsmen outside the court after submitting the sealed cover to it.
He said more than half of the people on the list were resident Indians and the rest were non-resident Indians (NRIs).
Along with the names, the Government also handed over to the court, in the same envelope, a status report on the investigations so far into the black money case.
The court did not open the cover and instructed the registrar to pass it on to the Special Investigation Team (SIT), constituted by the Government at its behest, to probe the case.
The court said the SIT could peruse the contents of the envelope and decide to act on the information in any manner it chose it in accordance with the law.
The SIT could devise its own process in this matter and decide how to proceed and see if the money involved could be recovered.
Mr Rohatgi informed the court that the deadline for completion of investigation and assessment by the tax authorities against those named in the list is March 31, 2015.

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