Amidst the black money commotion puffed up since the NDA government came into power, recently, an English newspaper claimed that “the number of Indians holding black money in Swiss bank is actually double than what has been obtained by the Indian government”.  

According to the list of HSBC account-holders received from the French Government, Indian government has claimed that there are only 628 individuals holding black money abroad. The total bank balance from these names comes up to 25,420 crore.

However, the newspaper - The Indian Express - in its investigative report states that the number of Indians holding the black money accounts is 1195.

Names in HSBC Indian list

The paper further says that these account holders with illicit money stashed abroad comprise of businessmen, diamond traders, politicians and NRIs/PIOs.

To name a few, the daily has openly quoted names of a few big shot businessmen - Mukesh Ambani, Anil Ambani, Anand Chand Burman, Rajan Nanda, Yashovardhan Birla, Chandru Lachhmandas Raheja, Dattaraj Salgaocar, Bhadrashyam Kothari and Shravan Gupta.

Diamond traders - Rusell Mehta, Anoop Mehta, Saunak Parikh, Chetan Mehta, Govindbhai Kakadia and Kunal Shah.

Politicians - former UPA minister Preneet Kaur, former Congress MP Annu Tandon and family members of former Maharashtra chief minister Narayan Rane — his wife Neelam Narayan Rane and son Nilesh Rane — as well as family members of the late Congress minister Vasant Sathe and Bal Thackeray’s daughter-in-law Smita Thackeray.

NRIs/PIOs - Swraj Paul, members of Manu Chhabria’s family, Rajendra Ruia/Vimal Ruia and Naresh Kumar Goyal.

Reportedly, the government has recently initiated tax evasion prosecution proceedings against 60 illicit account holders as part of its crackdown procedure on black money accounts.

A Special Investigating Team (SIT) headed by retired Supreme Court Judge Justice M B Shah, had stated in his last report to the government and the Supreme Court in December 2014 that the black money holders names in HSBC Geneva list will be taken to their logical conclusion soon.

Last month, Finance Minister Arun Jaitley also met his Swiss counterpart Eveline Widmer-Schlumpf and discussed the issue.

Most of the names revealed in the list today are known to the government: Jaitley

In response to the daily’s revelation, Jaitley, on Monday, said that the Centre has put in vigorous efforts towards digging black money during the last six to seven months.

Addressing the media in New Delhi, he said, “Most of the names revealed in the list today are known to the government."

"Some new names have been revealed, whose veracity would be checked by authorities," he added.

He also disclosed that the assessment of 350 account holders has already been done and the rest will be done by March 31. He stated that sixty prosecutions have been launched on those who have stashed money in foreign banks.