Govt files affidavit on black money

Government today filed an affidavit in the Supreme Court on the action taken by it on the issue of black money stashed in foreign banks.  

The affidavit was filed in response to a PIL filed by former Law Minister and eminent jurist Ram Jethmalani and five others who have been seeking a direction for the government to take action to bring back money to the tune of Rs 70 lakh crore stashed in foreign banks.  

When the petition was mentioned on April 22 before a Bench headed by Chief Justice K G Balakrishnan, Additional Solicitor General Gopal Subramanium had questioned the timing of raising the issue when the elections were underway.  Though the apex court had not issued notice, it had posted the matter for hearing on May 4 after the ASG had promised to file the affidavit within 48 hours.  

He had said that action was already taken on the issue when it came to light in February 2008 and "the situation is totally under control".   

Besides Jethmalani, five others including former Punjab DGP K P S Gill and former Secretary General of Lok Sabha Subhash Kashyap, who are petitioners, have alleged that government was not taking action on the issue.  However, the ASG had refuted the allegation saying that Prime Minister Manmohan Singh, in his opening speech at the recent G-20 submit in London, had said that "there should be an absolute transparency and banking secrecy should be over".

The ASG had said that the Ministry of Finance had written to the German authorities in February and June 2008 when the issue appeared in the media seeking information about Indian account holders in LGP Bank there.  

The PIL assumes importance as BJP's prime ministerial candidate L K Advani besides Left parties and others have been pressing the government to approach the foreign banks for bringing back the black money.