SIT set to expand ambit of probe into black money

February 10, 2015

New Delhi, Feb 10: The Supreme Court-appointed Special Investigation Team (SIT) probing the black money cases is set to widen its inquiry in view of new names of Indians with Swiss bank accounts emerging on Monday.

SIT black money

The SIT, however, said legal action would be taken only after verification of facts.

“The scope of investigation will definitely be widened due to the (emergence of) new names. We will have to identify those names and scrutinise them,” SIT Chairman Justice (retd) M B Shah was quoted as saying by a news agency.

He said there were some old names, but some new names have also come out.

“We can't take action on the basis of news reports only. We will first verify the claims from our side and then take legal action,” he said.

The revelations by a collaboration of “The Indian Express” and “Le Monde” of Paris with the International Consortium of Investigative Journalists (ICIJ) brought out names ranging from the richest Indian industrialist Mukesh Ambani, having an average joint balance of Rs 164.92 crore along with his younger brother Anil Ambani, to NRI businessman Naresh Goyal and politician Narayan Rane.

The list also included the names of Dabur Chairman Anand Chand Burman; Anurag Dalmia of Dalmia Pvt Ltd; Yash Birla Group Chairperson Yashodhara Birla, Rajan Prasad Nanda of Escorts; and Harshavardhan Neotia of the Ambuja Group.

SIT Vice-Chairman Justice (retd) Arijit Pasayat, who attended a meeting of the high-powered panel, said that it would “consider all new cases where there is evidence of black money”.

“If any new name comes and whichever way we have authentic information, we will act on it,” he said after the over-two-hour meeting, where existing cases of this nature were also reviewed.

The SIT had in December submitted a report to the apex court revealing that people on the HSBC list held Rs 4,479 crore in Swiss banks. The court had directed the Centre to ensure that the ongoing probe was completed by March this year.

It had suggested quoting PAN for cash and cheque transaction for payments over Rs 1 lakh to curb cases of slush money. Unregulated mining, Ponzi schemes, iron-ore exports, and the misuse of the export-import route, were identified as major areas prone to black money transactions.

The new names reported by the ICIJ said their records, apparently obtained through leaks from a Geneva-based branch of the HSBC, show that there are 1,668 Indians on it, while the number of actionable cases stands at 1,195 after taking into account duplication and some other factors.

Collectively, these accounts had a balance of $4.1 billion (Rs 25,420 crore) till 2007. The SIT is likely to discuss the new data in its next meet.

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Agencies
January 21,2020

New Delhi, Jan 21: With the IMF lowering India's economic growth estimate for the current fiscal to 4.8 per cent, senior Congress leader P Chidambaram on Tuesday claimed an attack on the world body and its chief economist Gita Gopinath by government ministers was imminent.

He also alleged that the growth figure of 4.8 per cent given by the International Monetary Fund (IMF) is after some "window dressing" and he won't be surprised if it goes even lower.

"Reality check from IMF. Growth in 2019-20 will be BELOW 5 per cent at 4.8 per cent," Chidambaram said in a series of tweets.

"Even the 4.8 per cent is after some window dressing. I will not be surprised if it goes even lower," the former finance minister said.

IMF Chief Economist Gopinath was one of the first to denounce demonetisation, he noted.

"I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath," Chidambaram said.

The IMF lowered India's economic growth estimate for the current fiscal to 4.8 per cent and listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.

In October, the IMF had pegged India economic growth at 6.1 per cent for 2019.

Listing decline in rural demand growth and an overall credit sluggishness for lowering of India forecasts, Gopinath, however, had said the growth momentum should improve next year due to factors like positive impact of corporate tax rate reduction.

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News Network
May 20,2020

Kolkata, May 20: Cyclone 'Amphan' lay centred about 240 km south of Digha in West Bengal on Wednesday morning as an extremely severe cyclonic storm, the Met department said here.

The intensity near the centre of the storm was 170 to 180 kmph gusting to 200 kmph, the Met said.

'Amphan' is very likely to move north-northeastwards and cross West Bengal-Bangladesh coast between Digha and Hatiya, close to the Sunderbans during the afternoon to evening of Wednesday with a wind speed of 155 to 165 kmph gusting to 185 kmph as a 'very severe cyclonic storm', the Met department said.

West Bengal has evacuated more than three lakh people to safer places as the cyclonic storm 'Amphan' roared towards the coastal areas of the state, officials said.

The Met department, which has issued an "orange message" for West Bengal, warned of extensive damage in Kolkata, Hooghly, Howrah, South and North 24 Parganas and East Midnapore districts.

The Met department has advised that all establishments and markets remain closed in Kolkata and adjoining areas and movement of people be restricted on May 20.

There is likely to be disruption of rail and road link at several places, uprooting of communication and power poles, extensive damage to all types of 'kutcha' houses and some damage to "old badly managed pucca" structures and potential threat from flying objects, the weatherman warned.

There is also likelihood of extensive damage to standing crops, plantations and orchards and blowing down of palm and coconut trees, the Met said.

The weatherman has advised diversion or suspension of rail and road traffic in the districts which are likely to be affected.

The Eastern Railway (ER) has cancelled the departure of Howrah-New Delhi AC Special Express for Wednesday.

The departure of 02301 Howrah-New Delhi AC Special Express on Wednesday and 02302 New Delhi-Howrah AC Special Express on May 21 would remain cancelled, the ER said.

Wind speed along and off the coastal areas of West Bengal will reach 75 to 85 kmph with gusts up to 95 kmph from Wednesday morning along and off districts of North and South 24 Parganas, East and West Midnapore, Kolkata, Howrah and Hooghly, Regional Met director G K Das said.

"It will gradually increase thereafter becoming 110 to 120 kmph gusting to 130 kmph over West Midnapore, Howrah, Hooghly, Kolkata and wind speed of 155 to 165 kmph gusting to 185 kmph over the districts of North and South 24 Parganas and East Midnapore of West Bengal from the afternoon to night of May 20," he said.

Under its impact rainfall will occur in most places over the districts of Gangetic West Bengal on Wednesday, with heavy to very heavy downpour with extremely heavy rain at a few places in Kolkata, Howrah, East Midnapore, North and South 24 Parganas and Hooghly districts, he said.

"Storm surge of 4 to 5 metres above astronomical tide is likely to inundate low lying areas of South and North 24 Parganas and about 3 to 4 metres over low lying areas of East Midnapore district of West Bengal during the time of landfall," he said.

The Indian Navy has dispatched a diving team for providing assistance to the West Bengal government in relief operations, a Defence official said.

The diving team from Vishakhapatnam has brought specialised equipment along with them which can be used for rescue in case of flooding and have been positioned at the Naval Service Selection Board at Diamond Harbour in South 24 Parganas district, the official said.

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Agencies
March 1,2020

Allahabad, Mar 1: Shabista Khan, wife of suspended pediatrician Dr Kafeel Khan, fears that her husband's life is in danger.

In a letter written to the chief justice of the Allahabad High Court and senior government authorities, Shabista has sought security for her husband who is lodged in Mathura jail for allegedly delivering provocative speech during anti-CAA protest at Aligarh Muslim University.

"My husband is being mentally tortured in jail and is being subjected to inhuman behaviour," Shabista wrote in her letter to the chief justice of Allahabad High Court, additional chief secretary (home) and director general (jail), among others.

She said that she apprehended that an attempt could be made on her husband's life in jail and demanded adequate security for him.

She also demanded that her husband should be kept away from active criminals and lodged with common prisoners.

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