29 October 2014

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List Black Money Account Name Holders 627 submitted

List Black Money Account Name Holders 627 submitted

BJP Government submitted the list of 627 black money account holders to Supreme Court in a sealed envelope

Why BJP government gave the list?
The list comes a day after the Supreme Court pulled up the Centre and asked it to reveal names of all foreign account holders by Wednesday.
The court had said that Special Investigation Team (SIT) will investigate black money and not the government.

Supreme Court had on Tuesday said, "You do not do anything. Just pass information of account holders to us and we will pass order for further probe. You do not have to take interest in people having foreign bank accounts, the Special Investigation Team will take care of it."
"We can't leave the issue of bringing back black money to government. It will never happen during our time. Why are you providing protective umbrella to foreign bank account holders," the court said.

The list has been provided by the French government of those who have accounts in the HSBC Bank, Geneva.

The Supreme Court refused to open the sealed envelope saying that only the SIT Chairman and Vice Chairman can open the sealed envelope containing the names of account holders.

The Supreme Court directed that the sealed envelopes, which also included correspondence with the French government, be given to the Special Investigation Team (SIT) chairman, retired Justice MB Shah, and vice-chairman, and retired Justice Arijit Pasayat.
The SIT was set up by the apex court 4 July 2011. Justice Shah was appointed by the NDA government on the court's advice in May 2014.

The Supreme Court has now directed the SIT to submit a status report by November 30.

The court set a deadline of March 2015 to complete the probe into whether these account holders have violated tax laws.

What list contains?
The list has names, account numbers and the amount of money in each account

The Attorney General told to media that the maximum people in the list are residents in India and rest are NRIs.

As per media reports 300 names in the list are of NRIs

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Wednesday, October 29, 2014

Tags – Black Money Names List 627