FM rules out giving names of black money holders abroad

FM rules out giving names of black money holders abroad

Finance Minister Pranab Mukherjee on Saturday yet again ruled out disclosing names of those who have stashed away money in tax havens abroad. 

He disclosed to the media that of the 18 names of secret account holders in a bank in Liechtenstein notices have been issued to 17.

One person was dead and so no prosecution was possible, he said.

The Finance Minister was talking to reporters a day after the media put out details of a list of 18 names, including 15 individuals and three foundations, holding accounts in a Lichtenstein Bank.

Recalling his press conference in Delhi last week, Mukherjee said government was not not in a position to disclose the names it has got of those holding secret accounts abroad and these will be known once the matter comes up in court.

"I had said in my earlier press conference as and when there will be prosecution and the matter will come to the open court then the names will be disclosed".

"But government suo motu cannot disclose the names. These are their concealed income. We have given the notices and prosecution will start very soon," he said.

Mukherjee said "of the 18 names we got we have already started prosecution. Notices have been issued in case of 17 persons. One person is dead so no no prosecution could be made."

The Finance Minister had at a press conference last week ruled out disclosing the names of account holders abroad citing absence of legal framework as a reason.(ST-05/02)

Govt sends notices to 17 related to black money trail 

Finance Minister Pranab Mukherjee has said the government has served notices to 17 persons related to the foreign banks black money trail, but it is not possible to reveal their names.

"We have received a few names and already served notices on 17 persons and prosecution has begun," he said in Kolkata on Saturday.

He said the government cannot reveal the names of account holders who have stashed their money away in Swiss banks as the information can only be used for taxation purposes.

"The government, suo motu, cannot reveal the names because according to treaty we can only use the information for taxation purposes. We can only reveal the details in the open court when the matter comes up for hearing," Mukherjee said.