Pranab Mukherjee, Opposition fight duel on black money

Union Finance Minister Pranab Mukherjee on Friday lost his cool during a debate in Lok Sabha on the black money in foreign banks issue, but averred that law will take its course to track the cases.

He said tax offender Hassan Ali Khan has not been allowed to leave India.

“Supreme Court directions in this regard will be observed,” he told Parliament, while making it clear that “no one can be hanged on mere allegations.”

He lost his cool when the Opposition Bharatiya Janata Party (BJP) members demanded an answer and raised a ruckus.

“I cannot hang him. Law has to be followed,” he sniped back at the Opposition.

There was a brief adjournment during the debate and later Mukherjee assured that the Income Tax department is following the case and trailing Hassan Ali.

The Union government earlier this month had filed an affidavit before the Supreme Court explaining its inability to disclose the names of black money account holders in a German bank owing to the bindings of international treaties.

The Centre said it cannot reveal the names of account holders in Germany’s Liechtenstein Bank.

The affidavit followed the earlier rebuke of the government by the Supreme Court after famous jurist Ram Jethmalanai filed petition seeking recovery of India’s back money stashed in Swiss banks and other tax havens by Indians.

The Centre, however, said the government pressure compelled the tax havens to end banking secrecy on the names of account holders.