I-T probe rolling in black cash cases

AGRA: Finance secretary R S Gujral on Tuesday said the income tax department has started prosecution proceedings against all those found guilty of stashing black money abroad, including the Indians found having accounts in HSBC, Geneva.

Gujral said it was an entirely wrong notion that people found accused in black money cases would be left without prosecution. "We have started prosecution process and we are bound by no agreement not to do so," he said. "We are only committed to maintaining secrecy of the information we have received from other countries. Once the matter is in public domain, we will share them with all other agencies, including the enforcement directorate," the finance secretary said.

With opposition threatening to stall the winter session of Parliament if the government refuses to share the list of Indians from HSBC, Geneva obtained from France, the finance secretary's statement is clearly to assuage feelings that the UPA government is not inclined to protect the guilty.

Speaking at the heads of National Drug Law Enforcement Agencies here, organized by the Central Bureau of Narcotics, Gujral said that once I-T has prosecuted people found accused in black money cases, the list of such people would be shared with the courts. "Once this list comes in the public domain, it will be shared with the ED for further action under the Prevention of Money Laundering Act," he added.

"It is not correct that we cannot go for prosecution because we have committed anything. The commitment is regarding secrecy. Secrecy has to be maintained," Gujral said.