Press release by Shri Shanta Kumar regarding PM misleading nation on Swiss bank accounts

PM MISLEADING NATION ON SWISS BANK ACCOUNTS : SHANTA KUMAR

Shri Shanta Kumar, National Vice President of BJP and MP (Rajya Sabha) has said that Prime Minister Manmohan Singh and his Cabinet colleagues were misleading the country on the issue of black money stashed away in secret bank accounts in Switzerland and other tax heaven countries. He said that Indian Government is avoiding the issue of recovery of black money from Swiss Banks under some political pressure which is unfortunate and disgusting. He said fact is that Swiss Government wants to return the illicit money to concerned country and this has been conveyed to Indian Government also by the Swiss counterpart well in time but Indian counterpart is deliberately avoiding the issue by not fulfilling the necessary conditions and completing codal formalities to acquire back this money.

In a press statement issued here today Shanta Kumar said that he had an opportunity to participate in UN General Assembly as a member of Indian Parliamentary delegation in the October Month of 2010. Where the issue of corruption and flow of illicit money in various countries was also discussed. He said in the deliberations , Swiss representatives Mr Mithias Bachman disclosed that Swiss Government was committed to return their black money to the originating countries as Swiss Government consider this amount as “stolen property”. Swiss representatives also disclosed that besides enacting a law to return the black money to originating countries Switzerland has signed and ratified the UN Convention against corruption also. Swiss representatives also clarified that return of illicit money depends upon the political will of the concerned country. Swiss representative also disclosed that his Government has started to return back the illicit amount to the originating countries.

Shri Shanta Kumar said that Indian Government was not taking initiative to return back this black money to the country. He said that the whole world was concerned with the malice of corruption and after long discussions for two years UN passed a historical convention against the corruption in the year 2003 . He said the fundamental objective of the convention under Article 51 and 52 is to identify and return back the stashed away money to the originating countries. He said Indian Government has signed this convention on the last date of signing convention i.e. 9th December, 2005. He said more than five years have passed and Indian Government had not been able yet to ratified this convention and according to the provisions of this convention no member country can cooperate on the matter of illicit money flow without ratifying the convention.

Shanta Kumar said that UN convention against corruption is an important international legal tool to recover money from foreign banks. He said since the Indian Government had not ratified the convention so the Indian Government cannot initiate any action according to the convention.

BJP Vice President said that Prime Minister Mr Manmohan Singh in his statement has categorized this black money as the issue of tax evasion, in fact it was not the issue of tax evasion whereas it consists of property earned through unfair , illegal means which includes corruption also. He said it constitutes criminal offence and should be treated as against the law of the land meant for crimes. He said in the case of Hassan Ali Khan, Pune Stud Farm Owner, after the raid of Income Tax in his Bombay and Pune hidings IT department got information about Rs. One lac crore accounts deposited in Swiss Bank. He said that he was given IT notice for depositing rupees forty thousand crores as IT recovery. He said nobody dare to inquire from where Khan has deposited this black money in Swiss account. He said that this matter was raised in Maharashtra Vidhan Sabha also and was put under the carpet when this came to light that political big-bigs are hands to glow with Mr Khan. Unfortunately Indian Government un succeeded in getting Swiss Bank accounts information of Hassan Ali Khan.

Shanta Kumar said rupees seventy lack crores were deposited in Swiss Banks. He said according to report of Global Financial Integrity, rupees two thousand lac crores have been flown from India since 1947. He said this is the worst every biggest loot committed by the Pseudo Elites of our country.

Shanta Kumar urge the Central Government to deal with the issue of recovery of black money in Swiss banks on priority basis so that accounts holders in tax- heaven could not withdraw their amounts from these banks.

(Shyam Jaju)
Headquarter Incharge