The decision to release the names of prominent account holders in Swiss banks has been long under wraps owing to the controversy regarding them, as well as international treaties and the Swiss bank norms that generally keep account information a secret. This has led to the NDA government being under a lot of criticism for not doing enough to make them public. However, Switzerland’s official Government gazette through Federal Tax Administration has released names of five Indian account holders who are being currently investigated for tax evasion.
These names include the flamboyant heir to the Yash Birla Group-Yashovardhan (Yash) Birla, Gurjit Singh Kochar, the son-in-law of Late Ponty Chadda (Real Estate baron from UP/NCR who was killed a few years back), as well as Ritika Sharma, a businesswomen from Delhi along with a few others who have been under investigation for the City Limousines investment scam.
Yash Birla’s office has denied this allegation and he has emailed to these reports saying that he had no individual account in his name. These names were a part of quite a few names released under the official gazette, having nationals from India, USA, Israel etc. Further investigations are on by Indian enforcement agencies.