Complete coverage: Kejriwal targets Ambanis, Daburs over black money

After our last expose, the BJP had said that we hold a weekly bazaar of scams. "I would like to state at the start that there are so many scams that we need to hold a daily bazaar," said India Against Corruption activist Arvind Kejriwal at a press conference in the national capital on Friday.

Stating that many people had come forward to suggest names of scamsters they knew about. "Today's expose relates to the return of all the black money from Swiss banks. According to the statement of a former CBI official, there is 25,000 lakh crores in black money stashed away in Swiss banks," said Kejriwal.

According to a CD provided by the French government earlier in the year, there are 700-odd account holders of hawala or black money accounts in the Geneva branch of HSBC Bank as on December 2006.

Giving away the suspense about the topic of his fifth expose, Kejriwal said, "While Mukesh and Anil Ambani both had Rs100 crore each stashed away in the Geneva branch of the bank."

One name that keeps cropping along side the Ambanis is that of Sandeep Tandon, whose wife Anu Tandon is a Congress MP from the Unnao constituency.

"Sandeep himself was an official in the Enforcement Directorate, who had quit to join the Reliance industries, Sandeep Tandon became close to the Reliance group. In fact, his two sons are office-bearers in Reliance," said Kejriwal.

Stating that the total amount of black money in HSBC branch is Rs6000 crore, Kejriwal said, "Naresh Goyal has Rs100crore in his Swiss bank account."

As for the modus operandi used to deposit black money in their accounts, Kejriwal said, "There is no need to go to a teller machine in the State Bank of India. Rather, a person comes to your house only after a phone call. One phone call to the  HSBC Geneva would trigger the delivery process by sending their agent right at your door step, all is arranged telephonically."

The money is paid or collected by agents who don't reveal their identity. It could be money from drugs, from terror links, anything....

The activist also provided a detailed questionnaire answered by three account holders, including one Parminder Kalra, whose premises were raided earlier in the year.

Kejriwal said, "The money transfer would be done by an agent in Delhi. Similarly, if one wants to withdraw the money, all one had to do was call the HSBC in Geneva and the amount would be delivered to you."

Here is the list of people Arvind Kejriwal named:

Mukesh Dhirubhai Ambani – Rs 100 crores

Anil Dhirubhai Ambani – Rs 100 crores

Motech Software Private Ltd (Reliance Group company) – Rs 2,100 crores

Reliance Industries Ltd – Rs 500 crores

Sandeep Tandon – Rs 125 crores

Anu Tandon – Rs 125 crores

Kokila Dhirubhai Ambani – She has an account but there was no balance on that date

Naresh Kumar Goyal – Rs 80 crores Burmans (3 family members) – Rs 25 crores

Yashovardhan Birla – No balance

"The premises of at least three persons whose names figure in the list of account holders at HSBC bank's Geneva branch were raided. But they were let off after they promised to pay the tax on the cash they have deposited with the HSBC, Geneva. But the big question is why only a few of the 700-odd names in the list were searched," said Kejriwal.

Accusing the Indian government of dragging its feet on the issue of getting the black money stashed away in Swiss banks back to the country, Kejriwal said, "Every company or individual named in the list of HSBC account holders must be probed. Then honest officials should be put through the task of making the account holders explain every suspect entry in their books."

Raid the Ambanis, Dabur's Burman, Jet's Goyal and Yash Birla for black money: Kejriwal

Stating that the information on black money had been sourced from government records, Kejriwal said, "What we cannot understand is why India, unlike the USA, is not able to act against banks like HSBC and UBS to curb their most brazen operations in both countries."

Demand put forward by the IAC activists:

Demanding that top officers of HSBC bank be booked under the Prevention and Corruption Act and sedition, Kejriwal said, "Laundering of black money is only making the country more vulnerable to terror and drugs."

"Like America, we should enact a law that makes it mandatory for foreign banks operating within the country to furnish the list of all account holders before the income tax department," the activist said.

He also appealed the 25,000-odd workers of the HSBC to quit their jobs, for the sake of the country. Further, Kejriwal said, "It is this black money stashed away in foreign banks that is routed back into the Indian stock markets in the name of foreign direct investments (FDI)."

*** It may be recalled that earlier in January this year, HSBC had issued an apology for naming him in its list of account holders.