The Centre told the Supreme Court that information on black money given by foreign countries with which India has double taxation avoidance agreement cannot be disclosed. The government said that the names cannot be made public as it violates the double taxation avoidance agreement. It said, the names can only be shared with concerned agencies. The apex court has agreed to hear the government's plea on 28th of this month.

On 15th of this month, Switzerland agreed to assist Indian authorities on a priority basis and provide requested banking information in a time-bound manner. The Swiss authorities will also assist in obtaining confirmation on genuineness of bank documents on request by the Indian side and also swiftly provide information on requests related to non-banking information.

Indian and Swiss governments have been in talks for the past few years on the matter of alleged black money parked by Indian citizens in banks in Switzerland, but there have been no major breakthrough despite having a bilateral treaty in this regard.

In July, Finance Minister Arun Jaitley had informed Parliament that Switzerland had raised some legal issues with regard to providing details of Indian citizens who had parked illegal funds in Swiss banks. Asserting that the government was making all efforts to get details of such accounts, Mr Jaitley had also said it was collecting evidence in this regard.

A Special Investigation Team, chaired by former Supreme Court judge Justice M B Shah, is looking into the menace of black money.