There are at least four Indian names in the list of unclaimed Swiss bank accounts where the last customer contact was at least 60 years ago.
The release of the list, which is the first such instance, was done by Switzerland today to give their owners' heirs a chance to come forward and claim the funds. The list contains details of over 2,600 accounts and 80 safe deposit boxes.
According to PTI, at least four Indian names feature on the list of Swiss unclaimed accounts. Of these four, the place of residence of two has been mentioned as India and for one as Paris (France). The place of residence for the fourth person was not disclosed.
The names of the Indians include Pierre Vachek, whose residence is mentioned as 'Bombay', the earlier name of Mumbai; Bahadur Chandra Singh from Dehradun; Dr Mohan Lal from Paris and Kishore Lall, whose place of residence has not been disclosed. The date of birth has also been disclosed in one case - that is for Vachek.
The list has been published by the Swiss Banking Ombudsman after compiling information from all Switzerland-based banks about the long-dormant accounts in the name of foreigners including those from India, while giving their lawful beneficiaries an opportunity to submit a claim.
As per a statement issued by the Swiss Bankers Association, the list, which contains the names of individuals or companies with Swiss bank accounts that have been lying dormant for the past six decades, has been published on a website. The total holding in these accounts is estimated at about 44 million Swiss franc (about Rs 300 crore), but the specific figure for the accounts of people from India was not disclosed.
The disclosure is in line with the amendments brought into the the Swiss Banking Act with effect from January 1, 2015. “Switzerland's Banking Ordinance as well as the guidelines of the Swiss Bankers Association demand that assets of bank clients with a total value exceeding CHF 500 have to be published after having been without contact for 10 years and dormant for another 50 years, e.g. after a total of 60 years,” the statement added.
The accountholders or their heirs now have a year to come forward and claim the assets, failing which they will be liquidated and transferred to the Swiss federal government. A similar procedure also applies to safe deposit boxes.
(With PTI inputs)
