While some notices were issued in April also, Switzerland had issued such notices in March to Mumbai-based Geodesic Ltd and its three directors (Prashant Sharad Mulekar, Pankajkumar Onkar Srivastava and Kiran Kulkarni), as also to Chennai-based Aadhi Enterprises Pvt Ltd, who are being probed by the Indian authorities for alleged money laundering and other financial irregularities.
Several of these names are said to have figured in the leaked HSBC lists and Panama papers which allegedly contained names of Indians with Swiss bank accounts and are being probed by Indian authorities in alleged black money cases. In these notices, the individuals or their authorised representatives have been asked to file their appeals, if any, within 30 days (10 days in some cases) with necessary documentary proof to support their case against providing 'administrative assistance' to India, which broadly means sharing of their banking and other financial details. However, no further details have been disclosed about them as well.
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The Indians whose names have been mentioned in full also included Krishna Bhagwan Ramchand, Kalpesh Harshad Kinariwala, Ratan Singh Chowdhury, Kuldip Singh Dhingra and Anil Bhardwaj. However, the gazette notifications of the Swiss government has redacted full names for several of them while making public only their initials besides the nationality and the dates of birth. However, officials said Rao has been associated with various businesses in southern states of India, including in the telecom business.Īn analysis of the notifications issued by the FTA, the nodal department for sharing of information on foreign clients of Swiss banks, shows that the Swiss government has stepped up its efforts in sharing such details with a number of countries in the recent months, but the surge in India-related cases is noticeable in the past few weeks. Switzerland has been striving hard to re-establish its global financial centre position after clamping down on secrecy walls of its banks and there has been a significant surge in the number of cases where it has initiated process to share information on Indians with Swiss bank accounts.Įxcept for his date of birth (July 15, 1951) and his Indian residency, the notification issued by the Federal Tax Administration, Switzerland, did not disclose any further details of Rao. In the preceding week, at least 11 such notices were issued on a single day, May 21, to various Indian clients of the Swiss banks, as per the Swiss government gazette notifications. The latest such notice was issued to one Potluri Rajamohan Rao on May 28, asking him to file an appeal, if any, within ten days in connection with the 'administrative assistance' sought by the Indian authorities.
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