SIT Readying To Work On Swiss List

June 23, 2014 10:13
SIT Readying To Work On Swiss List

Justice MB Shah(Left), Senior advocate Ram Jethmalani(Right)

The Special Investigation Team created by NDA Government as per the directions from the Supreme Court of India to investigate on black money headed by Justice MB Shah is all ready to use the details Swiss Government prepared to give to Indian Government.  

Although it is a major breakthrough to Modi Government to achieve one of its major promises in election manifesto that is to relieve Swiss and other foreign banks from stinking black money of Indians in their bank accounts, it will not be a comprehensive list of account holders.  Swiss Government is not prepared to divulge the names of individuals and entities with their bank balance details as they have to keep up the ethical values of keeping up the confidentiality of their customers. 

The decision of the Swiss Government to cooperate with the Indian Government is limited to identifying the individuals or entities like trusts and Indian companies who might have evaded paying tax to India.  Even that list is useful to Modi Government to make a kick start to get revenue from the monies otherwise lying idle in foreign banks.  

Swiss Government also promised to help SIT of India in their endeavor to bring out black money. 

Senior advocate Ram Jethmalani petitioner in the Supreme Court for the black money case expressed his happiness over the development.  He also expressed his hope that the NDA Government will take the maximum advantage of the cooperation Swiss Government promised to extend.  He said that a lot of money was stolen from India which can be used to fight poverty if it is recovered.  He also was hopeful that the culprits will be punished.

But it is only natural to have a disparaging elements also work actively in Indian politics.  AAP leader and senior advocate Prashant Bhushan says that SIT is appointed on the orders from Supreme Court and the Government has nothing to do with it to get its credit.  But the previous Government did not do even do that.  UPA Government did not form SIT in spite of repeated orders from Supreme Court!


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