Three Names In The Black Money Case Get Revealed

The Centre has revealed the names of three people against whom prosecution has been initiated for stashing black money in foreign banks. The names were revealed in the affidavit that the Centre has freshly submitted to the Supreme Court to explain its ‘misunderstood’ stand on the issue of revealing the names of foreign bank account holders.

Pradeep Burman of the Dabur group is among the names mentioned in affidavit submitted before the Supreme Court. The other names are Radha Timblo, a Goa-based mining baron, and Rajkot-based businessman Pankaj Chimanlal Lodhiya. The other names, which also include some high-profile politicians, will be revealed only after prosecution is initiated against them.

The government had earlier said that revealing all names without scrutinising the illegalities committed by them would violate the right to privacy. As per the rules laid down by the Reserve Bank of India, an individual can legitimately deposit $125,000 in a foreign bank per year. In its earlier affidavit, it had cited bilateral agreements, according to which, names of individuals holding accounts in foreign banks cannot be disclosed unless prosecution for committing irregularities.

Earlier, the Supreme Court had asked the central government to set up a high-level task force to monitor the work of intelligence and law-enforcing agencies in bringing back the black money deposited in foreign banks.