Can’t Invoke UN Convention to Get ‘Black List’

Published: 23rd December 2014 05:59 AM  |   Last Updated: 23rd December 2014 05:59 AM   |  A+A-

NEW DELHI: The UN Convention on Corruption cannot be invoked to get information on illegal  stashed money in Switzerland banks in violation of bilateral agreement between two countries, the Law Ministry clarified in an internal government note.

Information on account holders suspected to have money stashed away in the highly-protected Swiss banks can only be obtained after the legal probe establishes wrongdoing and tax avoidance by account holders. It is bound by the bilateral agreement and the information pertaining to black money cannot be got under UN Conventions, the Law Ministry has said.

The information was sought by the Prime Minister’s Office from the Finance Ministry which referred it to the Law Ministry. It could be noted here that Finance Minister Arun Jaitley’s opinion on the matter given to the Supreme Court came under much political fire.

It is in that contest that the Law Ministry has advised that a UN Convention against Corruption cannot be invoked to extract information on those, who have black money in Swiss bank accounts, as India and Switzerland have a bilateral protocol.


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