SC poser to govt over black money

NEW DELHI: The Supreme Court on Monday asked Centre to look into the feasibility of registering criminal cases under provisions of the Money Laundering Act to get information from the Swiss government on the unaccounted money parked in banks and financial institutions there.

A bench comprising Chief Justice K G Balakrishnan, Justice P Sathasivam and Justice M K Sharma sought explanation from the government as to why not even a single individual has been interrogated in the last five years in connection under Money Laundering Act and illicit money parked abroad.

Senior Counsel Anil Diwan appearing for petitioners Ram Jethmalani and others in his written submissions said: ���The most important factor is that not even a single individual has been apprehended/interrogated by the government or UOI in the last five years in relation to money laundering and slush funds from illicit funds parked abroad.���

Alleging blatant inaction in Hassan Ali���s case, Mr Diwan said: ���Why has the source of money of such large amounts not being investigated under Prevention of Money Laundering Act, 2002?��� ���Prima facie this (Ali���s case) is a clear case which can be brought under the Money Laundering Act.

It is clear that the Swiss authorities would be bound to disclose information, if criminal cases were initiated against him apart from tax evasion,��� said Mr Diwan.

Mr Diwan alleged: ���It is not unreasonable to infer that UOI is interested in protecting powerful individuals who may be using Hassan Ali and his wife as nominee/benamindar.��� When additional solicitor-general Gopal Subramanium objected to the plea, Justice Sharma said: ���Money Laundering Act could be applied to try such cases.���