Former Prime Minister Indira Gandhi's secretary Yashpal Kapoor relieved

NEW DELHI: The family of former Prime Minister Indira Gandhi’s secretary Yashpal Kapoor is relieved that he’s not the person said to have been listed as the holder of an overseas bank account in the HSBC bank controversy. ET reported on December 16 that the Yashpal Kapur said to be on the list is the owner of Delhi-based Everest Transmissions, a manufacturer of air blowers and mechanical vacuum boosters, and not the person associated with the former PM.

“There were attempts to malign my father’s name and target anyone closely associated with Mrs Indira Gandhi,” Ashok Kapoor, son of the late Gandhi aide, told ET on Friday. "There were media reports and selective leaks to target our family. This is a huge sense of relief to learn that this is not my father’s foreign account." ET had reported that Kapur moved an application before income tax department for compounding of offences under the Income Tax Act. Under compounding provisions, the assessee accepts the charges and pays the tax and penalty.

“Yes, we have received a compounding application from Yashpal Kapur, but the amount is not much,” a income tax official told ET, adding that he’s the owner of Everest Transmissions.