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Govt affidavit on black money stashers next week

Last Updated 23 October 2014, 18:53 IST

The Centre is set to file a supplementary affidavit in the Supreme Court next week detailing plans to submit a list of names of those holding bank accounts in foreign tax havens in a sealed envelope before hearing resumes on a petition on black money on October 28.

This follows Prime Minister Narendra Modi’s reported decision to reverse the earlier stand of the government before the apex court that it could not disclose the names of those who have deposited money in banks abroad till full investigation was done as it would jeopardise tax agreements with nations providing those names to India.

Modi apparently discussed the issue with Finance Minister Arun Jaitley and Bharatiya Janata Party (BJP) president Amit Shah following criticism of the party and the government. The Congress and other parties have accused the BJP of hypocrisy. The first list that the government intends to handover to the apex court may contain 136 of the nearly 800 names provided by European governments.

Sources say a fresh list of 19 people having illegal accounts with Liechtenstein Bank could also be shared with Supreme Court followed by another 20-odd names from the “HSBC Geneva list.” Under the tax treaties with Switzerland and other nations, there is no bar on naming those in the list to a court if the matter is under investigation and if strong evidence was established.

With Jaitley saying that the government and the BJP had nothing to hide and the Congress had more reasons to worry if the names were revealed, political circles have been agog with speculation about the identity of the foreign account holders. There has been talk in political circles about names of a former Union minister and the son of another, a former MP with family links to a leading business house, and the scion of a political dynasty.

In a TV interview on Tuesday, Jaitley did not deny the possibility of a former minister being on the list. “I am neither confirming, nor denying. I am only smiling,” he said.

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(Published 23 October 2014, 18:53 IST)

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