Indian Govt furnishes 627 names having overseas accounts

Center today handed over the names of 627 individuals and entities having accounts in overseas banks to the supreme court of India in a sealed envelop after being asked by the Supreme Court.


This came in effect when the Govt of India furnished 7 names of individuals and entities to the court alleging they have funds in foreign Bank accounts and proceedings have been started against them.


Chief justice HL Dattu asked the Govt to furnish the names of all those individuals and entities in sealed envelop and the Court will decide on the mode of investigation. He said the CBI or Tax authorities will be directed to investigate each case in a month’s time.


Soon after the court’s directive, Finance minister Arun Jaitley said the names have been already given to SIT (Special Investigation Team) formed by Govt and the Govt has no issue in giving the names to the Court.


India has no such confirmed number in terms of the money stored in foreign account but as per an estimate this may range from $466 billion to $1.4 trillion.


An HSBC employee of  allegedly stolen the bank account details and from there onwards the India Govt asked the French, German and Swiss banks to disclose the names.

 By Dipti Prasad Padhi

By : | Category : News| Sub Category : India News|Date : October 29,2014

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