The Bharatiya Janata Party (BJP)-led NDA government has drawn flak from opposition parties for not declaring the names of all black money account holders.
Former director of Dabur India Limited, Pradip Burman; chief promoter of Shreeji Trading Company based in western state of Gujarat, Pankaj Chimanlal Lodhiya; and Goa-based miner, Radha Satish Timblo, are the only persons named in an affidavit filed by the government and placed before the Supreme Court.
The three are currently under the scrutiny of the income tax authorities.
Communist Party of India (CPI) leader D. Raja, said revealing the names of only of businessmen exposes the government's hypocrisy.
"Why all the names are not being revealed? The government will have to answer. Why no politician's name has been revealed? The government has to answer. These are very important questions. Otherwise, it is clear the BJP-led government, Modi government, lacks the political will and determination to fight the corruption and to unearth black money," said Raja.
The Congress Party also demanded BJP government reveal all 800 names involved in the black money case as promised before coming to power.
More From This Section
Congress Party leader Rashid Alvi, said people of India have the right to know about the status of the money stashed in foreign bank accounts.
"The three names that have been revealed have no connection with any political party. They should face trials. But what about finance minister's statements? That's why I said the BJP is keeping the countrymen in the dark. I am saying again, they should reveal all names and show the list to the public. People should know whose money is stashed in foreign banks. They should not only reveal the names but must bring the money back to the country, which they promised before the general elections," said Alvi.
The central government in the affidavit said it has no intention to hold back any information or the names it received from the foreign governments of Indian citizens holding undisclosed accounts abroad.
The government added it set up a Special Investigation Team (SIT) to inquire further, soon after coming to power, as ordered by the Supreme court.
The Communist Party of India (CPI) also said the BJP was faking about bringing the black money back to the country.
"These three names belong to very small corporate houses and are not important. What about the big corporates and big political families and their supporters? I believe that 50 percent of the black money belongs to big corporate houses, 15 percent belongs to political parties and 30 percent belongs to their supporters," said CPI leader, Atul Anjan.
He added Prime Minister Narendra Modi, who used the issue of black money during his election campaigns, should now get to the truth.
Last week, Union Finance Minister Arun Jaitley had rubbished allegations by opposition parties that the BJP was reluctant in revealing names of people having black money stashed abroad.
However, defending his party's stand, BJP spokesperson Sambit Patra said the government is committed to keep the list transparent.
"Today is a historical day in the fight of black money. The government in the centre has shown that they have the intention of not only declaring the names but also bringing back the black money. It has promised the people that we would fight for the black money issue and today is the day when the promise has been kept. Names are gradually being declared as has been promised by the Finance Minister Arun Jaitley, that in the due procedure of law, names would be declared and that has started to happen today," Patra had said on Monday.
The central government in its application to the Supreme Court on Monday stated it cannot reveal names of account holders under double taxation avoidance agreement.
The Supreme Court in 2011 had ordered that all details of black money stashed abroad should be made public.
Pankaj Chimanbhai Lodhiya, however denied the charges.
"I don't have any Swiss account so I don't know. Actually right now, I am getting to know all these as you tell me but I don't have any Swiss account. Whatever the prosecution, we will just reply. We don't have anything. We have already shown all the books that we have," said Lodhiya.
India is the world's ninth most corrupt country, with 54 percent of the population paying a bribe over a period of one year, according to a 2011 report by Transparency International. Corruption may cost India between one and two percent of Gross Domestic Product ever year.