| India mum over secret bank accounts Germany has revealed that some Indians have allegedly been amassing money with a German bank. However, India is stoic about spilling the beans as it would drag some top brass into the legal net, which may endanger its power at the Centre.. A VERITABLE Pandora's box of secret information regarding top Indian tax evaders who have secret bank accounts operating in Germany, is awaiting to be opened. It might include some top Indian politicians and businessmen. While the German authorities have offered this information free of cost, surprisingly, neither the Prime Minister's Office nor the Ministry of Finance has shown any interest in getting the details, which may net some big fish. Speculations are rife that the huge amount of money belongs to some powerful Indian politicians, industrialists and stock brokers. The government of India is, however, apprehensive of spilling the beans as it would leak names of high-profile persons holding government offices, which can potentially damage its power at the Centre. The information was obtained by the German intelligence agency, Bundesnachrichtendienst (BND). It has details of more than 700 accounts of LTG Bank run by the crown prince of Liechtenstein, a country, which is considered a tax heaven for the rich and powerful the world over. It is believed that the information with the German government contains records of many Indians who have their accounts with a private bank in Leichenstein, a global hub for rich and famous to park secret funds. Criticising the languid approach of the Indian government towards uncovering this racket, Transparency International (the global civil society organisation leading the fight against corruption) said that the information lying with the German authorities should be obtained at the earliest. It has urged India to take all necessary steps to seek the data that the Germany had offered, free of charge in February 2008. Chairman, Transparency International India, Admiral (retired) RH Tahiliani said, "This money belongs to the people of India and it is possible that it has been tucked away in this distant country by those who have acquired it illegally and are now evading tax. There should be complete transparency and accountability about this money and it is for the government to find this out and inform people." It is pertinent to mention that the German government had offered to provide information about secret accounts to various countries, including India, free of cost. While most of the countries including USA, Finland, Norway, Sweden, Canada, Italy, Britain and other countries had expressed interest in obtaining the data, the Indian government maintained a stoic silence. Transparency International has said that neither the Finance Ministry of India nor the PMO has shown any interest in investigating those Indians, who have deposited their ill-gotten wealth in the secret accounts of that country. It has also raised questions regarding the use of such secret accounts for funding global terrorism. More importantly, it said that people of India have a right to know about the details. It belongs to us and cannot be denied to us for long. It is high time we all demanded what is rightfully ours. Source: Merinews |
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