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Asean & Global Updates
POSTED | 10:29 AM | 27-10-2014

Alleged black money account holders named in India

The Indian government has named three persons accused of holding black money accounts in an affidavit to the Supreme Court.

The three persons named are Pradip Burman, director of the Burman Group, Pankaj Chimanlal Lodhya, a Rajkot-based bullion trader, and Radha S. Timblo, a Goa-based miner and owner of Timblo Pvt Ltd, according to The Times of India.

The government told the court that it had no intention to withhold names of persons who have stashed black money abroad and stated that information received from foreign countries will be disclosed in all cases where tax evasion is established.

Every foreign account held by an Indian may not be illegal, the government said, adding that names cannot be disclosed unless there is prima facie evidence of wrongdoing.

It also told the court that Switzerland has indicated willingness to provide information on black money in cases where probe has been done by the IT department.

Television reports also indicated that four members of the Congress Party, including a former minister of the previous UPA regime, are under investigation, and added that their names may be revealed after the probe is completed. Among the four Congress Party members are two belonging to powerful political families in the state of Maharashtra, the television reports stated.

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