Great news Reveal all black money names tomorrow: SC tells govt The Supreme Court of Tuesday rapped the Centre for not disclosing the complete list of names of people who had allegedly stashed black money in foreign banks. Ordering the Centre to reveal the list on Wednesday, the Apex court said: Why are you providing a protective umbrella to foreign bank account holders? We cant leave the issue of bringing back black money to government. It will never happen during our time. New regime at Centre cant ask modification of order (of 2011) when it was passed in an open court and accepted by the government, the court further said. On Monday, the government had disclosed the names of 8 businessmen -- Pradip Burman, one of Dabur India promoters, Rajkot-based bullion trader Pankaj Chimanlal Lodhya and Goa-based mining company Timblo Private Limited and its five directors -- against whom it has started prosecution for allegedly stashing black money in foreign banks. The affidavit, filed days after the government came under attack from political rivals that it was wary of revealing names, said that these names have been received from French authorities and other countries. Promising to disclose more names of black money holders who have come under its scanner, the government said that all foreign bank accounts cannot be termed as “illegal”. The additional affidavit on the black money issue was filed on Sunday in furtherance of its affidavit recently when it had said that names of account holders in foreign banks cannot be disclosed till there is evidence of tax evasion against them and prosecution is launched in India. Promising to disclose more names in future, the government said in its affidavit that it was “keen to unearth black money held abroad” and it would “use all diplomatic and legal means and also all investigating agencies to obtain information that could assist in such unearthing.” While the Supreme Court, in its 2011 order, had directed complete disclosure of information on people who have black money abroad, the government had on Monday made it clear that it was open to disclosing information received under tax treaties only “after following the due process of law, in all cases where evasion of tax is established.” It said information would become public only after “investigations are complete and a complaint/ prosecution is filed in a competent court.” Further, the government said no names could be disclosed even in a proceeding instituted through a PIL “unless there is prima facie evidence of wrongdoing”. The affidavit also said that every account held by an Indian in a foreign bank may not be illegal and the fundamental right to privacy under Article 21 could not be ignored. Citing the treaties and agreements that compelled it to reveal information only for tax purposes, it said the government ought to follow the procedures prescribed in the legal instruments through which such information had been received.
Posted on: Tue, 28 Oct 2014 12:01:17 +0000
Trending Topics
Recently Viewed Topics
© 2015