Home Finance Swiss government names Lalit Modi, wife among those facing tax probe

Swiss government names Lalit Modi, wife among those facing tax probe

Swiss government names Lalit Modi, wife among those facing tax probe

These days, Switzerland named Lalit Modi and his spouse Minal amongst those about whom statistics and help were sought from its tax department by the Indian authorities.

In two separate gazette notifications issued nowadays on ‘assistance’ subjects, the Swiss Federal Tax management (FTA) also gave Modi and his wife ten days to exercise the right to be heard.”

government Without divulging further details, the FTA notifications asked them to tell approximately a designated authorized man or woman in Switzerland within ten days to acquire messages. One report has been issued for “Lalit Kumar Modi, Indian countrywide,” even though the alternative is for “Minal Modi alias Minalini Modi”. Electronic mail and SMS queries to the former IPL Commissioner about the notifications elicited no reaction.


In the past, several Indian nationals have been named in such notifications after the Indian government approached the Swiss FTA for statistics about those people regarding the pending tax-associated probes in opposition to them.

The ultra-modern notifications come days before High Minister Narendra Modi visits Switzerland. Discussions are predicated on further strengthening ties between the two nations in the fight towards black cash suspected to be stashed via Indians in Swiss banks.

Those covered numerous Indians inside the leaked ‘HSBC listing’ of human beings with bills in the Geneva branch of the worldwide banking massive.

The former IPL Commissioner, who left India for London in 2010, is dealing with a cash laundering probe. The ED requested the External Affairs Ministry to seek his extradition from the UK. He has denied any wrongdoing.

The ED desires Modi to join the investigation regarding the T-20 cricket Indian top-rated League (IPL) after an FIR became registered in opposition to him and others below the provisions of the Prevention of Money Laundering Act (PMLA). For a lengthy time, Switzerland was acknowledged for strict secrecy clauses about foreigners having accounts in Swiss banks. Beneath developing worldwide pressure, Switzerland has begun sharing statistics in cases where other countries could gift some proof of suspected illegalities.

Beneath Swiss regulation, a prescribed method is accompanied by any management assistance or data alternate through the FTA with India or any other United States of America. The Alpine state has tax treaties about their respective nationals.

Different notifications issued these days through the FTA were for Dubai-primarily based Evershine industrial agents, a Belize-based total corporation, and a Swedish countrywide named Hans Peter Lundgren.

This manner also seeks to shield “the proper to be heard” of the person approximately whom facts are sought by using the foreign United States of America.

“If the character concerned has now not targeted a person permitted to obtain the notifications, the FTA shall inform this man or woman about the pending administrative assistance process through the requesting authority.

“Simultaneously, the FTA shall set a time frame for the individual involved to designate someone permitted to get hold of notifications. The FTA may inform the involved man or woman at once provided that the inquiring authority expressly concurs to this procedure in that case,” the rules say.

If the person involved is discovered to be entitled to attraction, they may additionally participate in the process and investigate the files. The facts can be shared with the foreign authorities after the enchantment is rejected.

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