22.8 C
New Delhi
Wednesday 1 April 2020

CBI sues 51 companies for hiding ₹ 1,038 cr in Hong Kong

The investigating agency alleges 24 accounts have been used to send money abroad as advance payments for imports and 27 were used to send money for tourists

Editorials

In India

Foreigners who attended Tablighi Jamaat at Nizamuddin Markaz to be tried for violating visa rule

Sirf News has accessed from the police the records of many Tablighi Jamaat associates who have returned to or been to the Northeast and non-Muslims who passed through the area and returned to the states of the region

Tablighi Jamaat can’t explain mischief of members after leaving Delhi

While describing the 'difficulty' it faced to transport people out of Delhi, Tablighi Jamaat fails to explain why its associates and affiliates either mingled with people in their respective villages and why many of them just vanished in thin air

The government’s campaign against black money crossed a milestone today when the CBI named 51 companies or accounts for sending black money Hong Kong worth Rs 1,038 crore in 2014-15. Officials gave this information on Monday. It is alleged that these 51 entities sent unaccounted black money worth Rs 1,038 crore to Hong Kong in collusion with unknown officials of three state-owned banks: Bank of India, State Bank of India and Punjab National Bank.

Most of these units are owned by Chennai residents. The CBI was informed that the current accounts of 48 out of 51 units were opened in four branches of these banks only to send out an amount of Rs 1,038.34 crore.

The CBI has alleged that 24 accounts have been used to send money abroad as an advance payment for import of goods, under which an amount of Rs 488.39 crore was sent in dollars. Also, 27 accounts were used to send an amount of Rs 549.95 crore for overseas visits of Indian tourists.

The Narendra Modi government has taken a slew of measures to extract Indian black money from the domestic as well as international markets. While the business world in the country appears living in constant fear of raids by agencies, so far premier investigative agency CBI has not been successful in putting behind bars alleged offenders who are high profile like 2G spectrum accused A Raja or members of P Chidambaram’s family.

Demonetisation was meant to deliver a jolt to cash hoarders. GST is supposed to make accounting more complex but cleaner. Now there is a strong law against benami properties.

On the other hand, the black money in Switzerland has turned out to be a small fraction of what was claimed to be the volume of Indian cash stashed abroad in the period between 2011 when an anti-corruption movement started in the country and the BJP campaign for the 2014 Lok Sabha election. Also, no industrialist whom the activists alleged to be corrupt has been named by any authority abroad. The big names the International Consortium of Investigative Journalists (ICIJ) mentioned in their reports under the title “Panama Papers” mostly turned out to be legitimate holders of overseas accounts.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -

Articles

Sewa In COVID Times: Living ‘Service Before Self’ Credo

Sewa International volunteers were first off the starting block, setting up non-medical helplines for the four regional areas — West Coast, East Coast, Midwest, and Southwest — for a coordinated national response, where people can call in for assistance

India And US: Same COVID, Different Prescriptions

The different social structures, experiences in the leaders of the two countries, variation in the degree of political capital, etc make India and the US react differently to the global COVID pandemic

कोरोनावायरस काले विपरीतबुद्धिः का शर्तिया इलाज

कोरोनावायरस के भयावह व विकराल काल में जासूस विजय बनकर बाहर जाकर यह देखने की जरूरत बिलकुल नहीं है कि प्रशासन अपना काम ठीक कर रहा है या नहीं

Sewa In COVID Times: Living ‘Service Before Self’ Credo

Sewa International volunteers were first off the starting block, setting up non-medical helplines for the four regional areas — West Coast, East Coast, Midwest, and Southwest — for a coordinated national response, where people can call in for assistance

India And US: Same COVID, Different Prescriptions

The different social structures, experiences in the leaders of the two countries, variation in the degree of political capital, etc make India and the US react differently to the global COVID pandemic

कोरोनावायरस काले विपरीतबुद्धिः का शर्तिया इलाज

कोरोनावायरस के भयावह व विकराल काल में जासूस विजय बनकर बाहर जाकर यह देखने की जरूरत बिलकुल नहीं है कि प्रशासन अपना काम ठीक कर रहा है या नहीं

For fearless journalism

%d bloggers like this: