Union finance minister Pranab Mukherjee on Saturday said that prosecution has been started against 17 Indians who have deposited their black money in foreign banks but he ruled out disclosure of their names. “The German government has given us certain names during the time of double taxation avoidance agreement. Of the 18 names, we have already sent notices to 17 persons and prosecution against then has started,” he added.
Mr Mukherjee, however, pointed out that the Indian government could not suo moto reveal the names of tax evaders. “According to the treaty we can only use the information for taxation purposes. As and when the prosecution begins and the matter comes up in the court, then these names can be disclosed,” he added.
Mr Mukherjee had earlier also explained the problem that New Delhi faced due to the secrecy clausees in the treaties which it had signed with other countries. “We have nothing to hide. But there are legal provisions,” the Union finance minister had said in New Delhi Jan 25, called at the behest of Prime Minister Manmohan Singh to clarify the government position on black money and steps taken to bring it back.