I was surprised to see that Times of India, was not very much interested to publish Indian views connected with the Indian Black Money deposited in Switzerland, but for the reasons best known to it, advocated in favour of Swiss Authorities, by publishing a News Report, under heading ‘Swiss banks cannot act as any country’s tax inspector’ on 17 May 2009, which was prepared by TNN Reporter Mr. Sachin Parashar. I am raising the issue of Indian Black Money in Swiss Banks, since long time. In respect to my hue and cry news was also published by the Economic Times in eighties under heading "Shareholder’s Right", prepared by (Late) Mr. Samarjeet Ghosh, from Pune, who was victimized and transferred from Kolkata to Pune, for publishing my Interviews, by the Times of India Group of Newspapers under the Large Amount of the Advertisements from one Monopoly House.

In 2005, I make study on the basis of the documents available in websites of Swiss Authorities, and mentioned in my Online Petition addressed to Mr. Kofi A. Annan, the then Secretary General of UNO, to justify that black money deposited in Swiss Banks are just not the subject matter of Tax-Evasion, rather very serious matter concerned to Corruptions, Terrorism and organised crimes, and causing severe damages to developments of victim countries in clear violation of the basic objectives and principles described in U N Charter for international cooperation in solving international problems of an economic, social, cultural, or humanitarian character, and in promoting and encouraging respect for human rights and for fundamental freedoms for all and seriously infringing the fundamental rights of the citizen of other countries by seriously affecting the economical growths, thus I wanted that Security Council should sanction against Swiss Government for banking secrecy whcih providing open protections to illegal money of terrorists, corrupt politicians etc., from developing countries, causing severe threats to its legitimate developments and posted at: www.petitiononline.com/milap/petition.html
I also mentioned in the aforesaid Online Petition uploaded in June, 2005, based on available figures in the first quarter of 2005, from the Websites of the Swiss Authorities "Investment from foreign customers in Asset Management accounted for a share of approximately 57% of all assets held, 42.1% came from private clients and 47.5% from institutional investors. Commercial clients accounted for the remaining 10.4%." Swiss Authorities admitted that: "Swiss financial sector manages roughly a third of all worldwide financial assets invested abroad. It consequently holds a leading global position in the rapidly growing asset management sector. Assets in customer accounts managed by Swiss banks as of end of 2001 amounted to CHF 3,320 billion." Switzerland also has the world’s 5th largest bond market and accounts for more than 1/4 of all the money flowing into the global hedge fund industry. Such 57% which arising to CHF 1,881 billion in Foreign Asset Management is invested by the foreign clients certainly from developing countries. Reportedly rest 43% is also not from the Swiss Citizens. Its important part accounted from admitted unclaimed assets in the Swiss Financial sector belongs to corrupt politicians, bureaucrats and unscrupulous businessmen from developing countries.

Even as per the then roaming report a file is exists in India’s Central Vigilance Commission, (certainly they will not admit the same), which I also mentioned in my aforesaid online Petition, and indicating that amount between about Rs.16,00,00,00,00,00,000 & Rs.50,00,00,00,00,00,000 (16 and 50 Lakhs of Crores of Rupees) ($US 800 Billions Dollars or so) of the Black money from India are deposited in Swiss and other foreign Banks by the Corrupt Politicians, Bureaucrats and unscrupulous Businessmen. Since, control of the Govt. is not free from embracement from the Powerful Corrupt Politicians, whose money might be in Swiss Banks, as a result, Government of India is not initiating the matter in appropriate manner.

Therefore, by publishing following News Item, under heading ‘Swiss banks cannot act as any country’s tax inspector’ 16 May 2009, 0339 hrs IST, Sachin Parashar, TNN, the Times of India not performed its duty as Member of Fourth Estate of Indian Democracy.

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