Account Holders in Swiss Banks are the target of Arvind Kejriwal's recent expose and on top of the list of then names taken by the anti-graft crusader are Mukesh Ambani, Anil Ambani and some of their companies including the Reliance Industries Ltd.
This time the shares of Reliance Industries (RIL) reacted even as Kejriwal was addressing the media. The stock closed down 1%, while Anil's Reliance Communications (RCom) end down by 2.2%.
The center of Arvind's exposure was HSBC's alleged role in transferring the moneys to-and-from HSBC's Swiss branch.The names taken by Arvind as he made the disclosures today read like the who's who of Indian industry - The Burman's of Dabur, Goyal of Jet Airways.
According to the expose - In July 2011, Indian Government received a list of roughly 700 people
having bank accounts in HSBC, Geneva. The list contains bank balances of
these people in 2006. Even the name of Kokilaben Ambani - mother of Mukesh and Anil Ambani - is supposed to have been in the list of account holders, although the balance in the account was nil.
Today's expose by Arvind Kejriwal has once again raised questions on the loyalty and honesty of the Indian politicians.
It remains to be seen how long the government can go on without ordering an all out probe into the corrupt practices of the people in high places within the government and outside.
One thing is certain - the Indian Economy is headed for a major shake down.