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Indian black money - swiss bank

http://www.youtube.com/watch?v=JbwMQiXfwJY

http://youtu.be/JbwMQiXfwJY

TV5 - Black Money in Swiss Bank mainly from India

http://youtu.be/hwuDPfRxL2E

We have no third alternative to save our democracy, alas!Black money bowl boils too hot.As expected the ruling hegemony is quite safe as the latest exposure is subjected to proper investigation and the agencies have no freedom! BJP, the main opposition is screaming loud demanding full investigation as far as UPA interests are involved. But it is protecting its president dented earlier. While UPA is gearing to counter the false propaganda.Kejriwal gave details of Swiss bank account holders which included top corporate honchos. The IAC activist said the government had details of 700 Swiss bank account holders in the HSBC Bank in Geneva.He said his information was based on a list of 10 account holders in HSBC bank in Geneva that was passed on to him by a senior Congress leader that was later cross-checked by a team of his India Against Corruption (IAC) organisation.Kejriwal claimed that only 100 people of those in the list of 700 people having Swiss bank accounts have been raided. "Why did the government not raid the Ambanis and the Daburs? Small fish were raided by ED, I-T Department, but the big guys were let off," Kejriwal said.

Demanding the immediate arrest of some of the most prominent business tycoons, including Mukesh Ambani, Anil Ambani, Naresh Goyal of Jet Airways and members of the Dabur Group, activists of India Against Corruption (IAC) led by Arvind Kejriwal have charged them with amassing more than Rs 3,100 crore in Swiss banks through money laundering and hawala.Kejriwal's list also included Anu Tandon, MP from Unnao whose husband Sandeep worked with RIL and whose sons are also employed by RIL.

Kejriwal said the names include:

1. Mukesh Ambani – Rs 100 crore.

2. Anil Ambani – Rs 100 crore

3. Botex Software Pvt Ltd (Company has shareholding by Reliance) – Rs 2100 crore

4. Reliance Industries – Rs 500 crore

5. Late Sandeep Tandon (former IRS officer) – Rs 125 crore. (Kejriwal said Tandon was close to Mukesh Ambani. His two sons are also in the reliance. His wife Anu Tandon has Rs 125 crores too, Kejriwal said. She is the Congress MP from Congress. Kejriwal also said she is a core group member of Rahul Gandhi)

6. Kokila Dhirubhai Ambani has no money but has an account.

7. Naresh Goyal - Rs 80 crore

As per Kejriwal, Mukesh Ambani had Rs 100 crore, Reliance Industries - Rs 500 crore, Anil Ambani - Rs 100 crore, Kokilaben Ambani also had an account but the balance was zero as on December 2006, software company Motek in which Ambanis had shares - Rs 2,100 crore.

Sandip Tandon, the director of Motek was formerly an Enforcement directorate official, had Rs 125 crore and his wife Anu Tandon Rs 125 crore.

Kejriwal claimed that Sandip Tandon, while he was in the ED, had conducted raids at Reliance Industries but later he grew very close to Mukesh Ambani and now his two sons hold senior positions in RIL. Anu Tandon is the Congress MP from Unnao and is known to be in Rahul Gandhi’s team, Kejriwal claimed.

Stating that it was the first to demand that black money stashed away abroad be brought back, the BJP Friday asked the government to investigate the operationss of HSBC bank in India.Speaking shortly after activist-turn-politician Arvind Kejriwal blamed the Congress- led government for protecting those who had black money abroad, Bharatiya Janata Party spokesperson Nirmala Sitharaman also asked government what it has done so far to control black money.

Ahead of the Parliament session beginning November 22, Prime Minister Manmohan Singh is meeting leaders of UPA constituents and outside supporters to firm up a strategy to unitedly face any Opposition onslaught on issues like FDI in retail and price hike.

Singh is hosting dinner for the leaders of allied parties during which the strategy would be discussed for the upcoming Winter Session, sources said. Samajwadi Party leader Mulayam Singh Yadav and his son Akhilesh Yadav, Chief Minister of Uttar Pradesh, and National Conference leader Farooq Abdullah were invited for dinner tonight, the sources said.

Leaders of other allies like NCP, BSP, DMK and RLD have been called for dinner on Sunday, they said.

Anti-corruption activist Anna Hazare on Friday backed ex-colleague Arvind Kejriwal's allegations on black money, and sought a judicial probe against those who faced charges of having stashed black money in banks abroad.

"It is bad that the government targets small people but does nothing against prominent people," Anna Hazare said.

"Not just a government probe, but a judicial probe should be carried on in the matter," he said.

Anna Hazare was in Delhi, after visiting Guwahati.

In his fresh expose against the 'corrupt' in the Indian system, activist-turned-politician Arvind Kejriwal raked up the issue of blackmoney at a press meet in New Delhi on Friday afternoon.In his latest round of allegations, Arvind Kejriwal today targeted multinational HSBC Bank accusing it of indulging in money laundering and claimed Ambani brothers, Naresh Goyal and Congress MP Annu Tandon had parked their blackmoney in its Geneva branch.Kejriwal had earlier targetted Congress president Sonia Gandhi's son-in-law Robert Vadra's land deals, the then Law Minister and present External Affairs Minister Salman Khurshid of allegedly misusing funds allotted to his NGO and BJP president Nitin Gadkari.

"Our sources told us Mukhesh Ambani had come to the finance ministry when the list of 700 Swiss account holders were provided to India. He told the finance ministry 'we are prepared to pay the tax to buy peace and no raids should be conducted'," said Kejriwal.

According to Kejriwal, the present CBI director once said more than Rs 25 lakh crore of ill-gotten Indian money was stashed abroad while the Indian government said that an amount of Rs 6,000 crore is deposited in Swiss banks.

Interestingly, Kejriwal also claimed that one new minister SMSed me to keep up his team's efforts against Robert Vadra's land deals. “I was surprised, Sonia made him minister,” he said.

He said that out of the 700 people, only around 150 people faced I-T raids. “All were small fishes with savings of Rs 5-7cr,” he said.

Kejriwal alleged that the govt is not seeking account details from the Ambanis, Burman brothers, Naresh Goyal and Yashovardhan Birla and went on to demand that the government initiate a probe by the Income Tax department or the Enforcement Directorate against the Ambanis and others named in the list.

The anti-corruption activist also targeted President Pranab Mukherjee. He said, “Pranab Mukherjee made a scheme to protect these people…. planned amnesty for all the 700 Swiss account holders. When all these happened Pranab Mukherjee was finance minister. He is the President now but the country demands answers.”

Making serious charges against HSBC bank, Kejriwal said the bank is involved in money laundering in the country and hence all its operations be suspended. “The way they (HSBC) made India vulnerable to corruption, terror and drugs and senior officials of the ban should be booked and tried for waging war against the country.”

“Even Ambani and Burman brothers and Naresh Goyal should be arrested,” he added.

Interestingly, he quoted Economic Times report dated January 04, 2012 that HSBC Plc had apologised to Mukesh Ambani for wrongly embroiling him in an investigation by IT. “So is HSBC's just saying sorry to Mukesh Ambani enough? This is a criminal case and should be thoroughly investigated,” he stressed.

He further claimed that a lot of money coming through foreign institutional investors is not foreign investment but black money rerouted into the country and that HSBC operates through the FII mode.

Attacking the government over the issue, he said the government can actually stop these Swiss banks from functioning in India but they won't do so because many in government have Swiss accounts.

Kejriwal also appealed to the 32,000 Indians who work in HSBC to quit their jobs in national interest. “I appeal to them to quit their jobs. India is their country. They will get jobs in Indian banks,” he said.

He said even as black money was a big threat to India's economic sovereignty, the union government was trying to shield its perpetrators. "Indian government seems to be more interested in helping the guilty rather than punishing them."

Kejriwal said the then finance minister Pranab Mukherjee had even planned an amnesty for all the 700 Swiss account holders. He also demanded strict action against HSBC bank for encouraging kidnapping, corruption and terrorism in the country.

"Like America, we should enact a law that makes it mandatory for foreign banks operating in the country to furnish a list of all account holders to the income tax department," he said, asking the thousands of HSBC bank employees to quit their jobs.

The expose-press conference — that has now become an almost weekly affair — has already served judgment on two political figures, Robert Vadra and Nitin Gadkari, and a corporate czar, Mukesh Ambani.

Addressing a press conference, Kejriwal and lawyer Prashant Bhushan alleged around Rs 6,000 crore blackmoney was lying in 700 accounts of the Geneva branch of the bank.

Kejriwal said HSBC's Geneva branch has accounts of 700 Indians. He said France had given this list to the central government five years ago. The figures are till 2006.



In his last expose on October 31, Kejriwal had termed RIL's D-6 block in the Krishna Godavari (KG) basin deal as a "classic case of crony capitalism" and said both the BJP-led National Democratic Alliance (NDA) and Congress-led UPA governments were responsible.

Asserting that the government is succumbing to illegitimate demands of Reliance Industries, Kejriwal had said Mukesh Ambani is running the country and not Prime Minister Manmohan Singh.

"Who is running the country? It seems that Ambani is running the country," said Kejriwal, pointing out the silence of Singh.

He had demanded that Reliance should be stopped from exploiting national wealth and an end should be put to "crony capitalism".

They claimed that people who had deposited "small amounts of money" in the bank were raided but "big fish" like Mukesh and Anil Ambani, Naresh Goyal ( Jet Airways), Tandon and Burmans (Anand, Pradeep and Ratan) of Dabur were "let off" at the behest of the government.

The activists claimed that the Ambani brothers had Rs 100 crore each, Reliance Group's Motech Software Rs 2,100 crore, late Sandeep and Annu Tandon Rs 125 crore each, Naresh Goyal Rs 80 crore and Dabur's Burman brothers Rs 25 crore in the list of around 700 people having accounts in HSBC as of 2006.

Spokesmen for HSBC and Burman brothers declined to comment while Tandon called the allegations "utterly baseless and motivated".

Rejecting the allegations, Mukesh Ambani-headed Reliance Industries Ltd said neither RIL or Mukesh have or had any "illegitimate" accounts anywhere in the world.

"As part of normal business, international subsidiaries of RIL deal with several global banks including HSBC. These accounts are fully complain with all regulations and are disclosed in their appropriate jurisdictions and in India.

"The continued tirade of baseless allegations being made by IAC against us appears to be instigated by vested interests," an RIL statement said.

RIL sources referred to an HSBC statement of January this year in which the Bank had apologised to Mukesh Ambani for putting the name in the list of beneficiary account holders.

The two activists of India Against Corruption (IAC) also alleged that the UPA government under Manmohan Singh was "sold out" and it is the "biggest danger" as it is surrendering economic sovereignty of the country.

They expressed fears that terrorists in Pakistan or criminals can exploit the method of money transfer in HSBC for their activities in India.

Though they do not have "official documents" with regard to the businessmen holding accounts, Kejriwal claimed they checked with several sources after receiving an input from a Congress leader, who was inducted into the government in the recent cabinet reshuffle.

He also provided statements of three persons, whose names appeared in the list and questioned by Income Tax officials, in which they have told interrogators that HSBC facilitated them opening accounts without them going to Geneva.

The money was handed to over to an agent here and whenever, they wanted to withdraw they used to contact a person in Geneva and the amount was delivered in India, he alleged.

"There is no physical transfer of money. This is money laundering. The statements by the three persons reveal that HSBCis openly and brazenly running a hawala racket in India.

"These statements are enough to arrest HSBC officials. Their operations should be immediately suspended as it is a fit case for charging them under sedition and waging war against India," Kejriwal said.

Alleging that only about 125 of the 700 persons named in the list were raided, Kejriwal sought to question the rationale behind the pick and choose policy of the government in excluding the big fish from the raids.

Denying the allegations, Tandon, who was the Managing Director of Motech Software, said "you go and ask him on what he is making such allegations. I don't think he has anything to prove this."

Ambanis deny allegations

The Ambani brothers today rejected allegations by Arvind Kejriwal that they had parked blackmoney in HSBC Bank in Geneva and denied that they had any accounts there.

Strongly denying the allegations, Mukesh Ambani-headed Reliance Industries Ltd said neither RIL or Mukesh have or had any "illegitimate" accounts anywhere in the world.

"As part of normal business, international subsidiaries of RIL deal with several global banks including HSBC. These accounts are fully complain with all regulations and are disclosed in their appropriate jurisdictions and in India.

"The continued tirade of baseless allegations being made by IAC against us appears to be instigated by vested interests," an RIL statement said.

In a separate statement, the Anil Ambani-headed Reliance Group categorically denied all allegations made by Kejriwal against him. "Mr Anil D Ambani had no bank accounts with HSBC in Geneva," it said.

The Reliance Group statement said it is "regrettable that such baseless allegations are being made by IAC at the behest of vested interests".

Targeting the Ambani brothers, Kejriwal claimed that Reliance ADAG Chairman Anil Ambani and Reliance Industries Limited Chairman Mukesh Ambani had Rs 100 crore each in banks in Switzerland. "Anil Ambani has Rs 100 crore in HSBC Bank in Geneva. Mukesh Ambani also has Rs 100 crore in HSBC Bank in Geneva," Kejriwal said, claiming he has got a few names from the list of Swiss account holders from sources. However, the HSBC Bank had in a statement in January 2012 apologised to Mukesh Ambani for putting his name on a list of alleged Swiss bank account holders.

Kejriwal also targeted Congress MP Annu Tandon, alleging she had Rs 125 crore in Swiss accounts. He alleged that a total of Rs 6,000 crore was stashed abroad. Annu Tandon reacted saying Kejriwal's allegations were baseless.

Accounts in foreign banks as per law: Dabur's Burmans

The Burman brothers of Dabur group on Friday said that they had opened accounts in foreign banks when they were NRIs and were legally allowed to do so.

Rejecting allegations made by Arvind Kejriwal at a press conference in which he had accused HSBC Geneva of money laundering and that Burman brothers had accounts there, a statement issued by Dabur India said: "It was unfortunate that every person having a foreign bank account is being painted with the same brush."

"We wish to state that these accounts were opened by the Burman family members when they were NRIs, and were legally allowed to open such accounts," it added.

Claiming that the monies have been sent out of the declared and tax-assessed incomes received in India, the statement said the amounts have been officially remitted from India through official banking channels and as per applicable FEMA guidelines.

"The complete details regarding the remittances have been voluntarily, and as per law, filed with the Income Tax Department, and appropriate taxes paid as applicable," the statement said.

Naresh Goyal has no account in HSBC Bank Geneva: Jet Airways

Rejecting allegations of stashing away unaccounted money in Swiss accounts, Jet Airways on Friday said there is no account in the name of its Chairman Naresh Goyal in HSBC Bank, Geneva, though he is entitled to have bank accounts outside India as he is an NRI.

"There is no account in the name Mr Naresh Goyal in the Swiss bank as has been alleged. Besides, Mr Naresh Goyal has been an NRI since January 1991. He is entitled to have bank accounts outside India.

"The suggestion that there has been any unaccounted money stashed away in Swiss accounts is entirely false," a statement issued by Jet Airways said.

The carrier said Goyal is an NRI and had received a routine enquiry letter from the Income Tax Department regarding a bank account at HSBC Geneva of M/S Tailwinds Ltd, a company based in the Isle of Man.

"The existence of the company M/S Tailwinds is fully disclosed to various departments of the government of India. All questions have been satisfactorily replied to the Income Tax Department," it said.

BJP rakes up black money issue again

Activist-turned-politician Arvind Kejriwal's allegations about some Indians having accounts in tax havens abroad gave BJP an opportunity to flag the issue of black money again as the party asked the government make public all details of such individuals and entities.

BJP claimed it been raising the issue of black money since the 2009 general elections when its prime ministerial candidate LK Advani had demanded that names of all individuals and entities who have stashed Indian money abroad illegally should be made public.

"BJP believes that it is a very serious which the government has to tackle. When Advani had raised it, Congress had mocked and laughed at it. Having won the elections and gauging the mood of the people, the UPA government said in 2009 that it will act on this within 100 days. But nothing has moved since then," party spokesperson Nirmala Sitharaman said.

Striking a sarcastic note, the BJP leader insisted that this was expected from Congress which "fails" to keep its promise.

Recalling the sequence of events, BJP claimed that initially 22 names were revealed by Liechtenstein but the government did not make all the data public.

Sitharaman said the then finance minister Pranab Mukherjee had announced some measures on the issue in Parliament. This included formation of a committee to look into the matter but till today the government has not shared any details on the progress.

"Government should tell what has been done by the committee. It should also now make public all the 700 names of account holders given to the government by the French government. You cannot pick and choose some names," Sitharaman said.

BJP alleged the government has hidden behind excuses like double taxation and pressure created by PILs in courts and smaller countries acting on similar information made available to them about their citizens.

The opposition party demanded a thorough investigations into the entire HSBC affair after Kejriwal's allegations that HSBC Bank has been indulging in money laundering. Kejriwal claimed that the Ambani brothers, Naresh Goyal and Congress MP Annu Tandon had parked black money in its Geneva branch, even as the bank and all the named individuals denied holding the bank accounts.

BJP said Congress appears to be revising its manifesto at its "Chintan Shivir" in Surajkund but should first look at those issues which it has "failed" to implement from the last election's manifesto.

"They had said they will act on the black money issue within 100 days of coming to power but have not done anything till date. Instead, Congress has worked for those things which were not mentioned in its manifesto like 'a-scandal-a-day' and corruption to the hilt," Sitharaman said.

BJP said it will raise this issue in the forthcoming winter session of parliament.

Asked about Congress MP Annu Tandon having a Swiss account, BJP leaders said their MPs had submitted affidavits to their respective heads (speaker and chairman) in Parliament and challenged the ruling party legislators to do the same.

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