The disclosure by the businessman identified as Satish
Swahney came on Friday after a team of Income Tax(I-T) sleuths
from the newly created Directorate of Criminal Investigation
(DCI) carried out simultaneous searches at his posh Sainik
Farms bungalow and South Extension-I premises.
Swahney, an energy sector consultant operating in the
country and abroad, is at present under preventive detention
of the I-T department.
The I-T team, according to top sources today, has found
that Swahney had five foreign bank accounts-- one each in
Zurich and Singapore and three in the US--besides being in the
possession of eight 'almirah' sized lockers in banks in Delhi.
"Swahney has surrendered Rs 73 crore to the criminal
investigation unit of the department. The searches on him were
conducted after specific inputs were received about him," a
top IT official said.
Jewellery worth Rs 1.5 crore and Rs 18 lakh in cash has
been seized in the operation conducted by a team of about 20
officials, the official added.
Sources however said the Swahney case had no links with
the classified list of bank accounts of some individuals
received from abroad.
The IT team which swooped down on the Sainik Farms and
South Extension-I premises of the businessman yesterday were
shocked to find documents relating to the foreign bank
accounts cleverly concealed in an SUV parked inside the
Eight bank accounts in Delhi have been sealed by the I-T
department after the conclusion of searches today, sources
"The bank accounts are all Delhi-based and are with
ICICI, HDFC and SBI. They will be opened shortly," the sources
The DCI has approached the CBDT to forward its requests
to Switzerland, USA and Singapore to get details of the
foreign bank accounts.
New Delhi: In the biggest ever disclosure of
black money stashed abroad, a Delhi-based businessman has
disclosed and surrendered Rs 73 crores to the Income Tax
department and also gave details of lockers held in Swiss
banks and the US.
First Published: Friday, January 06, 2012, 16:24