Balckmoney in foreign banks amounts to plunder of nation: SC

Posted By: Pti
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New Delhi, Jan 19 (PTI) The Supreme Court todayexpressed displeasure over the government''s reluctance incoming forward with full information on the black moneystashedby Indians in foreign banks, saying it as a theft of nationalwealth and amounted to "plunder" of the nation.

"It is a pure and simple theft of the national money.

We are talking about mind-boggling crime. We are not on theniceties of various treaties," remarked a bench comprisingjustices B Sudershan Reddy and S S Nijjar, while hearing apetition by former Law Minister Ram Jethmalani and others forretrieving Indian black money stashed in foreign banks.

The remark by the bench came when Solicitor generalGopal Subramanium was explaining various steps taken by thegovernment under the Double Taxation Avoidance Act.

The court was unhappy that the government filed anaffidavit restricting information relating to the moneydeposited by 26 persons in Liechtenstein Bank in Germany.

"This is all the information you have or you havesomething more?," the bench asked.

"We are talking about the huge money. That is theplunder of nation," the bench remarked. .

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