The Centre on Tuesday said that it has completed investigation against persons named in HSBC and liechtenstein banks for black-money stashed abroad and made an assessment totalling around `15,000 crore in the two cases.
Finance Minister Arun Jaitley said investigation against 628 people named in the HSBC list of Indians holding foreign bank accounts has been completed, an assessment to the tune of `8,437 crore in 409 of these cases was made and 119 prosecutions were filed against them.
Jaitley was responding to a question by member Ram Jethmalani after almost 30 minutes of acrimonious exchanges between ruling BJP and Opposition members on the issue of black money.
The heated arguments began after the 94-year-old veteran lawyer and suspended BJP member asked the Government whether it had made any effort to get the names of blackmoney holders offered by Germany.
Jaitley said the Government has also assessed each of those named by the liechtenstein Bank and an assessment of around `6,500 crore of undecla-
red income by them has been made. While the Opposition accused the Government of not doing anything except making false promises of bringing in blackmoney stashed abroad, the Government countered it saying several steps have been taken to bring in black money from abroad, including enactment of new laws to check the menace. The House saw trading of charges when Jethmalani accused the Finance Minister of “lies”, which infuriated the ruling party members who sought an apology. Jethmalani also charged the Government with committing a “fraud” on the country.
“You must expel all of them if you want the House to function,” Jethmalani said as he sought silence in the House, to which the Chair said it is an “interesting suggestion but cannot be implemented.”
Jethmalani said “The German Government has offered to disclose information on account holders stashing black money. Did you make any effort to avail of the offer made publicly by the German Government.”
Chairman Hamid Ansari kept on chiding the ruling party members and even saying “You are Ministers. You can’t do it (standing up and protesting).”
Jaitley said in addition to this, further action in respect of the accounts relating to Panama papers was also being taken.
As Opposition and ruling party members traded charges, the Chairman said certain unparliamentary remarks made by Jethmalani has been expunged and the member has been cautioned over the use of language and unparliamentary words.