Toughening its stand, the Supreme Court on Friday asked the Central government to explain as to why it was reluctant in disclosing the names of Indian nationals who have stashed huge black money away in banks abroad.
Asking the government to give reasons for not revealing their names, a Bench comprising justices B Sudershan Reddy and SS Nijjar said, ?The names are submitted in a sealed cover to the court. What is the difficulty in disclosing the information?”
It also observed that ?it is not a case of only tax evasion, but more than that. The issue involved is of serious nature?? The observation from the Bench came in the wake of reluctance on the part of the Central government to make public the names despite getting the information from the German government about the people and organisations which have kept the unaccounted money in the tax heavens such as in Liechtenstein, a principality of Germany.
The matter has been posted for hearing on Wednesday.
Solicitor General Gopal Subramanium told the court that the government has got the details but does not want to reveal it. ?I am prepared to give status report on any individual. We are committed to our position that there has been tax avoidance cases,? he said.
Senior counsel Anil Diwan, appearing for former Union law minister Ram Jethmalani, said the government was deliberately not making the names public and was not taking prompt and effective steps to bring back the country?s wealth lying in foreign banks, including Swiss banks.