Senior counsel and parliamentarian Ram Jethmalani, who’s been waging a war with the governing party after falling out over the issue of black money, wrote in a blog post that the demonetisation of Rs 500 and Rs 1,000 notes is “some good news in the matter of black money recovery”, although it was primarily a “cover up operation” by the government.

In a revelation which may shock many, the Solicitor General, Ranjit Kumar told the Supreme Court’s three-Judge bench hearing the black money investigation case this afternoon at Court No 2, that nothing survived in this case, and the court could dispose it of.

There are many cases in the Supreme Court, which are under continuous monitoring of the court, meaning that the court, rather than dispose them of after issuing certain orders, monitors them once in a while, so as to ensure compliance with its orders by the authorities concerned. The petition, filed by senior counsel Ram Jethmalani in 2009, (writ petition [civil] 176 of 2009) is one such, which has seen several ups and downs.

Prime Minister Narendra Modi today ordered a multi-agency probe team on the global expose by International Consortium of Investigative Journalists (ICIJ), dubbed the Panama Papers, which found over 500 Indians also had alleged offshore links. “A multi-agency group is being formed to monitor the blac...

The Special Investigation Team (SIT), probing the unaccounted money stashed away outside the country to tax havens and ways to bring it back, on Tuesday informed the Supreme Court that it had submitted its fourth report with its registry. After being informed about the submission of the latest repor...

The Supreme Court Tuesday was told that the unaccounted black money stashed away to tax havens would not be recovered as the central government and its bureaucrats entrusted with the task have not taken any effective steps to recover it. Describing the steps taken so far to recover the money as “gre...

PRS Legislative Research Trina Roy reports: Today Lok Sabha today passed the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 . The Bill penalizes the concealment of foreign income, and provides for criminal liability for attempting to evade tax in relation to foreign income. At ...

Ram Jethmalani has run a half-page advertisement article in the Indian Express today, arguing in detail why he is fighting for black money stashed in foreign bank accounts to be repatriated, laying into both his own party the BJP and the former Congress government.

Khaitan & Co Mumbai-based partner Haigreve Khaitan has said that the family’s Swiss HSBC Bank account was set up as a way of legally and transparently diversifying their investments abroad but was closed after only a few years.

Amid opposition attack of being soft on money laundering, the Indian government Monday furnished the names two individuals, including a promoter of the Dabur consumer goods company, and a mining company and its five directors to the Supreme Court, alleging they had funds in bank accounts abroad over...

The central government today told the Supreme Court that it could not disclose the names, received from foreign governments, of people who have allegedly stashed away their ill-gotten money to tax havens, as it was bound by the confidentiality clause under the double taxation avoidance agreement. It...

The Supreme Court rejected the government’s plea to undo its judgment asking for a special investigation team to probe black money stashed abroad in a PIL that was first filed and won by senior counsel Ram Jethmalani. Anil Divan represented Jethmalani, while Mohan Parasaran argued for the government...

Indian private banks must raise trillions of rupees of capital by April 2017, as per Basel III compliant RBI guidelines [ Mint ] SEBI welcomes ‘qualified foreign investors’ to Indian equity market [ Business Standard / Press Release ] Telecom operators: DoT scuffle over 3G licensing and TDSAT jurisd...

The Supreme Court (SC) yesterday appointed a special investigation team (SIT) under former SC judges B P Jeevan Reddy and M B Shah to supervise the investigations and probe into illegal monies stashed by Indians in foreign banks and tax havens abroad.

Exclusive: Senior advocate Anil Divan, whose public interest litigation (PIL) with Ram Jethmalani and others over the problem of black money stashed abroad, has slammed the government for equating the problem to mere tax evasion while commenting on the future of the case concerning up to Rs 70 lakh crore ($1.4trn) of wealth that is believed to be parked by Indians in foreign banks and tax havens.