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Wednesday, December 16, 2015

Switzerland makes public 2,600 dormant accounts; 4 from India

At least four individuals from India figured on Wednesday in a list of unclaimed bank accounts made public by Switzerland which contains over 2,600 accounts and 80 safe deposit boxes.

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.

Of the four Indians, place of residence of two has been mentioned as India, while it is Paris (France) for one. The place of residence for the fourth person was not disclosed.

These are 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
 
Timeframe for claims
The relatives and heirs of these persons will have 1-5 years to submit their claims for these accounts, the Swiss Banking Ombudsman and the Swiss Bankers Association (SBA) said.

This is the first time that Switzerland has published such a list that is aimed at giving their owners’ heirs a chance to claim the funds in these accounts. Only those accounts form part of this list which have got at least 500 Swiss francs and have remained unclaimed at least 60 years.

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