Red-tape India's Swiss access?
30 Jan 2011, 0907 hrs IST
With the pressure mounting on the government to recover India's black money, the Swiss once again put the onus on India. Speaking to TIMES NOW, Whistleblower banker Rudolf Elmer's lawyer said it's India that has not been proactive enough to get back it's loot stashed in Swiss banks.
Elmer's lawyer Ganden Tethong has clearly said that India has not been proactive enough and that even though a diplomatic MoU between India and Swiss exists from 1989, the Memorandum has been hardly utilised by India. But, the most interesting point made is that the Swiss bank secrecy clause is not absolute.
Speaking to TIMES NOW in a exclusive interview Tehong said, "The Swiss secrecy caluse is not absolute. Based on International and Mutual Assistance act on legal matters, India can seek access to Swiss account details. The Swiss can give out details on dirty money."
She added, "India is not utilising the MoU signed with the Swiss on the matter. Details on terror and black money can be sought using it. India needs to be more active on obtaining black money transactions."
An RTI accessed by TIMES NOW uncovers a shocking fact. The RTI reveals how it's almost been 6 years since a cabinet nod was given for ratifying the UN treaty which allows for information exchange between countries on corruption. The question now remains as to what is the cause of delay?
But, the bill is still stuck in red tape...RTI document with TIMES NOW has shown that Ministries have been sitting on it for five long years. If this treaty had been ratified, the Indian Govt today would have been able to access information which is denied to us.
The treaty in question ensures information exchange among countries on corruption. India had signed the treaty in 2005, but is yet to ratify the Anti-corruption pact. Close to 144 nations have ratified the treaty, using it to get information on black money stashed in tax havens.
What is the treaty?
- Treaty signed to ensure information exchange among countries on corruption
- India signed the treaty in 2005, but is yet to ratify Anti-corruption pact
- India amongst 11 countries that haven't ratified the pact yet
- 144 Countries have so far ratified the treaty in their country
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