Black money row: Name only those who are verified to be at fault, says ASSOCHAM

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) on Wednesday requested the Supreme Court to disclose the names of only those account holders who have been verified by the Special Investigation Team (SIT) to have illegally stashed money in bank accounts abroad.

"Each case must be investigated individually. The only apprehension from ASSOCHAM is that there is a threat in case the names are disclosed and the individuals are later not indicted by the court. The reputation and credibility of their institutions will be seriously impacted," ASSOCHAM Secretary General DS Rawat told ANI here.

Rawat further said that the names should only be disclosed after individuals are verified to be at fault and there is adequate proof confirming the same, adding said that the reputation of the individuals who are not indicted by the court will be severely damaged.

"Unless the cases filed against the individuals and the adequate proofs are with the government, the names should not be revealed," Rawat said.

Rawat also said that the black money stashed abroad must be brought back for productive use and growth of the nation.

"There are no two opinions that the Indian money stashed abroad must be brought back to the country for productive use and growth of the nation. Today the government has handed over 620 names in a sealed envelope to the honourable Supreme Court as per their direction. It is a good development," Rawat said.

Earlier on Wednesday, Attorney General Mukul Rohatgi submitted three sets of documents, containing the list of 627 people having illegal accounts in foreign banks, to the Supreme Court in a sealed cover.

The government also submitted a status report in a sealed cover.

The apex court said only SIT chairman and vice chairman can open the seal and asked the investigating agency to submit the status report of its probe by November-end. The apex court allowed the Centre to put forth its grievances regarding various treaties with foreign countries before the SIT.

The Supreme Court had earlier on Tuesday reprimanded the Centre after the latter released the names of just three account holders on Monday and asked it to release the names of all the people who have stashed away black money in foreign banks.