(a) whether attention of the Government has been drawn to news item captioned `Swiss Banko Mein Jama Bhartiyon Ka Dhan Swadesh Aane par Videshi Rin se Chhutkara` published in `Punjab Kesari` dated October 21, 2000;
(b) if so, the reaction of the Government thereto;
(c) the estimated money deposited by Indians in the Swiss and other foreign banks; and
(d) the efforts made by the Government so far to bring back this money to India ?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI GINGEE N.RAMACHANDRAN)
(a)&(b) : Whenever any specific information comes to the notice of the
investigating agency about FERA violation including holding of illegal
bank accounts in foreign banks, investigation is conducted in accordance
with provisions of Law.
(c) &(d) : Some cases relating to money deposited by Indians in such Banks
have been detected and it has been found that a sum of approximately
U.S.$ 52,82,150, Pound 44,40,242.90, S.$ 10,90,000 and Belgium Francs
approximately 27 Lakhs were lying with such Banks. Adjudication
Proceedings against such persons have been initiated as provided under
the Foreign Exchange Regulation Act. In one of these cases, a complaint
has also been filed in the Court under Section 56 of FERA.