Switzerland Sends At Least 25 Notices To Indian Nationals Over Sharing Their Swiss-Account Details With India

Switzerland has sent at least 25 notices since March to Indian nationals who have Swiss bank accounts. The country notoriously known as a safe haven among black money hoarders has started cracking down on its banks following global pressure by divulging details of account holders.

India has in the past appealed to Swiss authorities to disclose the said details by providing proof of financial irregularities of individuals who have have accounts in that country.

In response, the Swiss authorities sent notices which sought individuals and their representatives to file their appeal within 30 days with necessary documented proof to support their case against providing bank details to the Indian government, reports Press Trust of India.

Federal Tax Administration (FDA) has published redacted names of the individuals along with their nationality and date of birth and sought the bank holders to come forward and show a case to not reveal more details to respective countries.

The two Indians whose names have been mentioned in full are Krishna Bhagwan Ramchand (born in May 1949) and Kalpesh Harshad Kinariwala (born in September 1972) while no further information on them is published.

The others with redacted names are Mrs A S B K (born 24 November 1944), Mr A B K I (born 9 July 1944), Mrs P A S (born 2 November 1983), Mrs R A S (22 November 1973), Mr A P S (born 27 November 1944), Mrs A D S (born 14 August 1949), Mr M L A (born 20 May 1935), Mr N M A (born 21 February 1968) and Mr M M A (27 June 1973).

As per the Swiss law, the FTA decision can be appealed within 30 days of notice given that the appellant has sufficient proof to legitimise the funds in the account.