Thursday, September 12, 2024

'Mind-boggling crime' "It is a pure and simple theft of national money. We are talking about [a] mind-boggling crime. Mr Subramaniam said the government was taking measures to bring back the illegal money, but said there were difficulties in sharing the information because of confidentiality treaties between countries. "All we want is that you give all the information about the money deposited in the foreign banks by Indians. You cannot confine the petition to one bank," Justice SS Nijjar said. The court has fixed 27 January as the next date of hearing. Global Financial Integrity said the illegal flight of capital through tax evasion, crime and corruption had widened inequality in India. High net-worth individuals and private companies were found to be primary drivers of illegal capital flows.

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