Black money: Govt gives 26 names to apex court

In the remaining eight cases, no evidence of tax evasion or wrongdoing had been found and hence no action was being contemplated, he added.

While laying down the information following the court’s strictures on the last date over the government’s reluctance to disclose such details, the SG pointed out that there could be a problem in getting information from the foreign authorities in future.

“German authorities had earlier refused to share information with the Enforcement Directorate. Such information is shared under the Indo-German Double Taxation Avoidance Conventions and Reciprocity Agreement. It is meant only for taxation purposes. Although we have complied with the orders, there may be a problem in getting information from foreign authorities,” Parasaran said.

The bench, also comprising Justices Ranjana P Desai and Madan B Lokur, however, said: “We cannot help it. There was a specific direction on sharing the information in 2011. All the arguments that you are making today were taken care of while passing this order.”

The bench also agreed with senior advocate Anil Divan, who appeared for petitioner, advocate Ram Jethmalani, that not only the names but the government was obligated to share all other details regarding the bank accounts with them. The bench said it will discuss the content of the documents among themselves and decide the issue regarding the disclosure of the details on May 1.

On being requested for expediting the proceedings, the court assured Divan that it was monitoring the case and will “promptly” follow it.

Jethmalani further told the court that he could put on record names of those who have bank accounts in Switzerland and are involved in money laundering. He said reports suggest that Indians alone have parked around Rs 19 lakh crore black money abroad.

The bench said it will consider his submission and asked him to be ready with an affidavit on it in the next hearing.

Those against whom prosecution has been launched included Mohan Manoj Dhupelia, Ambrish Manoj Dhupelia, Bhavya Manoj Dhupelia, Manoj Dhupelia and Rupal Dhupelia from Ambrunova Trust and Marline Management.

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

It said 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.