Sunday, October 10, 2010

Enforcement Directorate directed to give details of Swiss bank a/c

Observing that Indian citizens are keen to know about the amount of black money stashed away in foreign banks, a full bench of the Central Information Commission (CIC) has directed the Enforcement Directorate (ED) to reveal "an estimate of the total volume of such money involved in the investigations they are presently conducting." The decision came on an application filed by a VR Chandran who had asked if the "union finance ministry is aware of the existence of such secret accounts of Indian citizens in Swiss banks amounting to 1456 billion US dollars." He had also asked for action to be taken in order to find the identity of the account holders, list of depositors, action contemplated if deposits are illegal and if the Indian government had asked the Swiss authorities for repatriating the illegal money. But when ED — the government's principal agency to check and undo illegal stashing away of money from the country — refused to provide any information claiming exemption under the RTI Act, Chandran went to CIC.

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