Black money: Govt reveals names of 18 account holders in Liechtenstein bank

Apr 29 2014, 20:10 IST
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Supreme Court had reproached the Centre over its reluctance to share information received from Germany about individuals stashing money in Liechtenstein Bank. Supreme Court had reproached the Centre over its reluctance to share information received from Germany about individuals stashing money in Liechtenstein Bank.
SummaryHowever, Centre also asked Supreme Court not to make public names of certain other individuals.

After resisting for more than three years, the Centre today revealed names of 18 persons in the Supreme Court who allegedly stashed black money with LST Bank in Liechtenstein and against whom prosecution have been launched by the Income Tax department.

The names, listed in Centre's affidavit, include Mohan Manoj Dhupelia, Ambrish Manoj Dhupelia, Bhavya Manoj Dhupelia, Manoj Dhupelia and Rupal Dhupelia from Ambrunova Trust and Marline Management.

Centre said that IT department also found evidence against four members of Manichi Trust-- Hasmuk Ishwarlal Gandhi, Chintan Hasmukh Gandhi, Madhu Hasmukh Gandhi and Late Mirav Hasmukh Gandhi.

It said that prosecution has been initiated against Chandrakant Ishwarlal Gandhi, Rajest Chandrakant Gandhi, Viraj Chandrakant Gandhi and Dhanalaxmi Chandrakant Gandhi from Ruvisha Trust.

Names of Arunkumar Ramniklal Mehta and Harshad Ramnikal Mehta from Dainese Stiftung and Dryade Satiftunf trust was also mentioned in the list.

K M Mammen from Webster Foundation, Arun Kochhar from Urvashi Foundation and Ashok Jaipuria from Raj Foundation were also named.

Centre also placed in a sealed envelope the names of other individuals with respect of eight other cases in which it found no evidence of tax evasion and asked a bench headed by Justice H L Dattu not to make public those names.

The bench, also comprising justices Ranjana Prakash Desai and Madan B Lokur, however, said that it will discuss the content of documents among themselves and will decide the issue on May 1.

Notwithstanding the Supreme Court order in 2011 to make public the names of account holders in LGT bank received by it in 2009 from German tax authorities, Centre has not done so, drawing the ire of the apex court.

"It is respectfully submitted that the information regarding deposits/outstanding amounts in the accounts maintained by 12 trusties/entities with LGT bank in Liechtenstein was received by government from German tax authorities in March 2009 under the Indo-Germany Double Taxation Avoidance Convention.

"The 12 trusts/entitied involved 26 individuals of Indian origin. Out of the 26 cases, investigations in 18 cases have been concluded by the IT department and prosecutions have been launched in 17 cases (one tax payer has expired)," the Centre said in its affidavit.

The court was hearing a PIL filed by noted lawyer Ram Jethmalani seeking directions to the government "to file list of names of those having accounts in Liechtenstein Bank with respect of whom investigations have been concluded, either partially or

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