A problem for the powerful family of Goa? Government to soon obtain data from Swiss account of Salgaocars – The New Indian Express
Express press service
NEW DELHI: The Indian government will soon receive details of the money held in Swiss accounts by the powerful Salgaocar family of Goa. The Swiss Federal Court ordered that India receive the requested information.
Deepti, the sister of industrialists Mukesh and Anil Ambani, is married into the Salgaocar family. The details requested by the Indian government concern accounts held by trusts whose main beneficiaries are the two children of Deepti Salgaocar.
The Salgaocar family had been locked in a long legal battle in Switzerland to prevent Indian tax authorities from obtaining details of trusts set up by the family in that country.
The Indian Ministry of Finance had requested details of these trusts about eight years ago.
The court finally ruled in favor of the transmission of the requested data.
Deepti Salgaocar’s daughter, Isheta Salgaocar, is married to Neeshal Modi, brother of Nirav Modi, who was declared a fugitive economic offender after he and his uncle Mehul Choksi were found involved in a scam involving alleged fraud of banks in Rs 14,000 crore.
The Swiss court had previously ordered the disclosure of information regarding the bank accounts of Anil Ambani, his wife Tina Ambani and their two sons Jai Anmol Anil Ambani and Jai Anshul Anil Ambani. However, the court ordered that the names of Anil Ambani and his family not be disclosed in public. But Swiss investigative media pulled the names from court records and put them in the public domain.
Late last year, the court rejected a request by Kokilaben, mother of Mukesh and Anil Ambani, to anonymize her name while providing information about her Swiss accounts to the Indian government.
Kokilaben’s request for Swiss bank accounts was first made by India in 2012, but was rejected by the Federal Tax Administration. The Indian government tried again in 2018.
This time, the Swiss authorities agreed to give the requested information on December 28, 2021. It was then that Kokilaben requested that his name be withheld on the grounds that it would create a “big stir” in India. She had also claimed that her personality was affected as her “reputation had been attacked”.
According to some sources, the notorious Swiss banking secrecy is a thing of the past and the information received so far is only the beginning. They said the government was working to obtain details of many other wealthy Indians and information on those accounts would soon be available.
The hideout of the Hinduja brothers will be revealed
Among the other big names whose Swiss bank details should also be published, is that of the Hindujas, a large Indian business family.
According to sources, information on the Swiss accounts of the Hinduja brothers is expected in a few days.