The Supreme Court in its 2011 order had directed complete disclosure of information on people who have black money abroad.
The Supreme Court on Tuesday rapped the government for withholding information and directed it to disclose all entities named in the black money list provided by foreign authorities by tomorrow. The Supreme Court in its 2011 order had directed complete disclosure of information on people who have black money abroad, and accused the government of providing “protective umbrella,” to some whose names appear on the list.
On Monday, the government had disclosed a few names against whom it has initiated prosecution under the Income Tax Act for allegedly stashing black money in foreign banks.
The blackmoney account holders whose names have been revealed are Dabur India promoter Pradip Burman, bullion trader Pankaj Chamanlal Lodhiya, Goa mining company Timblo Private Ltd and five of its directors — Radha Satish Timblo, Chetan S Timblo, Rohan S Timblo, Anna C Timblo and Mallika R Timblo. The names appeared in a 16-page affidavit filed in the apex court, but all entities have denied any wrongdoing.
Speaking to the press, Finance minister Arun Jaitley said the government will share the list given to SIT in June with the Supreme Court. Attorney General of India Muku Rohtagi also told CNBC-TV18 that the government has no issues with any agency investigating the case. Facing flak for not revealing all the names, Jaitley had earlier said the government will reveal identity of only those entities against whom the authorities have prosecutable evidence.