India seeks Swiss bank details of Ratul Puri, his father and two offshore companies

Switzerland's tax authorities on Wednesday issued public notices for Indian businessman Ratul Puri, his father and two offshore firms linked to them after India sought details of their Swiss bank accounts for allegedly having illicit funds.

In separate notices published in the Swiss government's federal gazette, Ratul Puri and his father Deepak Puri have been asked to notify Switzerland's Federal Tax Administration within 10 days about their authorised representatives in case they want to appeal against "administrative assistance" requested by India.

An administrative assistance typically involves sharing of banking and other financial details by Swiss authorities after it prima facie finds the request made by a foreign jurisdiction involving an individual or company suspected to have indulged in tax evasion or other financial irregularities.