Black money is ’mind-boggling crime’: Supreme Court

Mtoday news

New Delhi, Jan 19 :  The Supreme Court has criticized the government for its handling of black money planted by industrialists and others in foreign bank accounts.

"It is a pure and simple theft of the national money. We are talking about mind-boggling crime...it’s not about treaties," said the court.

The case is based on a petition filed by former Law Minister Ram Jethmalani and others to retrieve black money being held in foreign banks.

The government has submitted to the Supreme Court a list of 26 Indians who have accounts in tax haven Liechtenstein’s LGT Bank but has said these names should not be made public because it would violate an agreement between India and Germany.

The case will next be heard on the 27th of this month when the government will have to explain to the court why the names of the account-holders should not be made public.