Black money: India seeks details of over 10 people

These include two listed textile companies, while others are associated with an art curator and his carpet export business. 

Switzerland’s tax department issued notices to them last week to reply within 30 days to appeal the decision about providing ‘administrative assistance’ in information requests from India. 

Under its local rules, Switzerland provides a final chance to the concerned persons and entities before sharing the information about suspected cases of tax crimes with any foreign jurisdiction. These notices are made public through gazette notifications if they are not reachable directly by the concerned banks or the tax department. 

At least ten such notices concerning individuals and companies with Indian links were issued last week. There are also some companies incorporated in tax havens like Panama and British Virgin Islands. Most of the companies and individuals are associated with a carpet export business and an art curator with operations across several countries. These are Abdul Rashid Mir, Amir Mir, Sabeha Mir, Mujeeb Mir and Tabassum Mir. The companies named in these notices include Cottage Industries Exposition, Modale SA and Progress Ventures Group. Some of these names had figured in the leaked Panama Papers too.