Will reveal names of slush fund holders, government tells SC

The union government today assured the Supreme Court that it would reveal the names of persons who have stashed illicit money in foreign banks after it registers formal cases against them.

Solicitor General Gopal Subramanium, appearing before a bench headed by justice B Sudershan Reddy, said the government has issued show cause notices to the persons accused of having black money in foreign banks, and once a case is registered against them, their names will be made public.

The bench also asked the government to ensure that Hasan Ali Khan, a Pune-based businessman, who is accused of stashing money in foreign banks, does not leave the country. The bench also queried whether the stud farm owner could be made a party to the proceedings before it.

"It's your duty to ensure that he is available to face prosecution," the court said when Subramanium informed it that Hasan is in India and the government is taking all necessary steps against him.
The court was hearing a petition filed by noted lawyer Ram Jethmalani and some former bureaucrats seeking the court's direction to the government to bring black money, said to be the tune of $1 trillion, back to the country.

Appearing for Jethmalani, senior advocate Anil Divan contended that the government is not taking effective steps in this direction.

Referring to an article in which it was reported that letters rogatory have been issued to authorities in five countries -UAE, UK, USA, Singapore and Hong Kong - seeking information regarding black money, he submitted that nothing more has been done in that regard.