03 May 2013

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Black Money LGT Bank ED Gives First Notice to Mumbai Individual

Black Money LGT Bank ED Gives First Notice to Mumbai Individual

2 years back Germany gave India a list containing the names of account holder’s criminals of India who hid their money in LGT bank.

In year, 2011 Germany provided the names of some Indians having secret accounts in LGT Bank.

Now after the delay of 2 years [ED] Enforcement Directorate has slapped its first penalty notice of Rs 2 crore for alleged forex violations against an individual

The notice under the Foreign Exchange Management Act (FEMA) has been issued against a Mumbai-based person.

Media reported that  The Rs 2.26 crore penalty is for “contravention” of FEMA and the money is to be remitted within the first half of this year by the concerned individual

Why the time was given?

Why not to  confiscate all the property or send them behind the bars?

Income tax department has also issued notice to 17 individuals named on that  list for concealing income

The action has been taken under
Section 271 (1)(c) of I-T Act which states action for “concealment of particulars of income or furnishing of inaccurate particulars of such income

But we the honest citizens and slaves  of India do not have the right to know the name of the persons, criminals who hid their blank money in Swiss Banks.

As per my knowledge and understand Slaves do not have any right to get the information.

How Germany got the information of criminals?

First, the information was stolen and then it was sold to the government of Germany.

Is  it not crime to buy the stolen car?

Is it not the crime to buy anything, which is stolen?

Thus, is it not crime to buy the stolen information?

Now the stolen information was given by Germany government to the Indian Government and
And now on the name of honesty and laws Indian government is not ready to share the names of those people whose names are in that list.

Justice Delayed Justice Denied 

Suggested Reading –

In Depth a Case of Black Money – India, Germany and LGT Bank in Liechtenstein –

Reality views by sm –

Friday, May 03, 2013

Tags – LGT Bank  


MEcoy May 03, 2013  

another great post sm

Renu May 03, 2013  

criminals are only those who steal for hunger, those who do so for luxury are VIPs..

DWei May 03, 2013  

Haven't they caught Americans doing something similar?