The Special Investigation Team (SIT) on black money is likely to prosecute HSBC India for facilitating the flow of black money in the country.

"The bank could be prosecuted over tax evasion connected to its Swiss subsidiary," a top Income-Tax (I-T) official told dna.

The I-T department has conducted an extensive survey of HSBC India headquarters in Fort here over the weekend as reported by dna exclusively on Sunday (February 22).

The survey details will decide HSBC India's fate as the taxmen submitted them to the SIT in New Delhi on Monday. The details were submitted by a senior official from the Directorate of Income Tax.

"Taxmen have also sought important documents and transaction details of major cases figuring in the new HSBC list. The statements of 5-6 officials, including two top ones, were recorded," said officials.

In its annual report published on Monday, HSBC confirmed that it has been served summons by the Indian tax department.

"It is being probed by tax authorities in many other countries as well with regard to alleged irregularities by its Swiss banking unit and there could be 'significant' amounts of fines, penalties and/or forfeitures imposed on it," said the British bank.

"After new names and details of HSBC's second list came out recently, the I-T department initiated a fresh survey. The survey and inquiry, which began on Friday evening, went on for more than 24 hours. A senior official from the Directorate of Income Tax (DIT) has gone to Delhi to submit the survey details," said a senior official, without divulging further details.

HSBC said various tax administration, regulatory and law-enforcement authorities around the world, including in Belgium, France, Argentina and Switzerland, are investigating and reviewing HSBC Swiss Private Bank in connection with "allegations of tax evasion or fraud, money-laundering and unlawful cross-border banking solicitation".

A leaked list of over 1 lakh account holders in HSBC's Swiss banking unit, including 1,195 Indians, recently became public, prompting authorities in India and many other countries to launch investigations to ascertain whether these accounts had illicit money.

The bank said that HSBC Swiss Private Bank has been placed under formal criminal examination by magistrates in both Belgium and France.

Last week, the Swiss police raided HSBC's Geneva office over suspected money-laundering operations.