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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 9,2020

New Delhi, Jan 9: Amazon founder and CEO Jeff Bezos will be visiting India next week and is likely to meet Prime Minister Narendra Modi and officials, besides industry leaders, according to sources.

The top executive will also attend SMBhav – an event focussing on small and medium businesses in India - that is slated for January 15-16 in the capital city.

When contacted, Amazon declined to comment.

Amazon, which has seen significant growth in its business in India, has also witnessed protest from a section of traders in the country who claim that e-commerce giants including Amazon and Walmart-owned Flipkart offer deep discounts and engage in unfair business practices.

Last year, the government had tightened rules for e-commerce marketplaces with foreign investment. These rules barred such platforms from offering products of sellers in which they hold a stake and banned exclusive marketing arrangements among other clauses. Following this, Amazon restructured its joint ventures to ensure compliance.

Bezos is likely to discuss regulatory issues in his meeting with the government officials.

He is also slated to engage with SMBs during the SMBhav event. The event - which will focus on discussions around how technology adoption can enable SMBs in India - is slated to see participation from industry experts, policymakers, solution providers and Amazon leadership.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 31,2020

New Delhi, Jan 31: The central government has decided that pensioners' life certificates will be collected from their doorstep, saving them from hassles of visiting pension disbursing banks.

The service will be charged an amount not exceeding Rs 60, according to a statement issued on Thursday by the Department of Pension and Pensioners' Welfare (DoPPW).

Every year a pensioner is required to give proof of him being alive to banks in order to ensure continued pension. These certificates can be submitted online or by visiting the bank.

"The department has taken a landmark step to make life easier for senior citizens to submit their annual life certificate for continued pension," it said.

Directions have been issued to all pension disbursing banks to send SMS or emails to all their pensioners on October 24, November 1, November 15 and November 25 every year reminding them to submit their annual life certificates by November 30, the statement said.

"The bank in addition will also ask such pensioners through SMS/email as to whether they are interested in submission of life certificate through a chargeable doorstep service, the charge not exceeding Rs 60, it said.

The department for stricter monitoring and in order to ensure that no pensioners are left out has also directed the banks to make an exception list on December 1 every year of those pensioners who fail to submit their life certificate and issue another SMS or email to them for submitting it.

The Central Pension Processing Cells (CPPC) of the pension disbursing banks shall now be duty bound to submit a report to the DoPPW in January, February and March.

The report will indicate the total number of pensioners who have not given their life certificate along with a breakup of the certificates submitted physically and through digital means, the statement said.

This is a landmark step from the side of the central government showing due care for pensioners, it said.

This step is in addition to the order issued in July last year, vide which all pensioners aged 80 years and above have been given an exclusive window to submit their life certificate w.e.f. 1st October every year instead of 1st November every year, the statement added.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 7,2020

May 7: Two people, including a child, were killed and nearly 70 hospitalised after a gas leak at a chemical plant in Andhra Pradesh's Visakhapatnam in the wee hours of Thursday, officials said.

People in Gopalapatnam area, where the chemical plant, LG Polymers, is located, complained of irritation in eyes, breathlessness, nausea and rashes on their bodies.

District Collector V Vinay Chand said two people were killed due to the gas leak, while some are in a critical condition.

Close to 70 people have been admitted to the King George Hospital after for treatment, he said.

TV channels showed people lying unconscious on roads.

Teams of the National Disaster Response Force (NDRF) have rushed to the spot.

Reports said the gas leak has been contained.

Chief Minister Y S Jagan Mohan Reddy enquired about the incident and directed the Visakhapatnam district collector to ensure proper medical care for the affected people.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.