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Rs 70 trillion stashed away in Swiss Banks, Govt tells SC

The union government Saturday told the Supreme Court that it was doing everything on the issue of retrieving over Rs.70 trillion ($1.4 trillion) in black money believed to be stashed away in foreign banks by rich Indians.

The government said this in an affidavit filed in the apex court in response to a lawsuit by former union law minister Ram Jethmalani, former Lok Sabha general secretary Subhash C. Kashyap and former Punjab Police chief K.P.S. Gill, which had sought the court's direction to the government to retrieve the unaccounted money.

In its affidavit, the government termed the lawsuit as "politically motivated" and questioned the timing of its filing, in the midst of the general elections, and sought its dismissal.

So...what next? any guess?


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