Black money probe: SIT to hold first meeting in June

The first meeting will be held on June 4th and all the members have been asked to participate.

By: Press Trust of India | New Delhi | Published:May 29, 2014 8:16 pm
money-t The first meeting will be held on June 4th and all the members have been asked to participate, official sources said. (Source: PTI)

The first high-level meeting of the Special Investigation Team (SIT) on the issue of black money and special probe into cases of unaccounted funds stashed away abroad by Indians will be held in New Delhi on June 4th.

Officials said the Department of Revenue under Finance Ministry has issued invitations to all the 11 members of the SIT after obtaining the consent of the Chairman and retired Supreme Court Judge M B Shah and Vice Chairman Justice (retd) Arijit Pasayat for convening the meeting.

The first meeting will be held on June 4th and all the members have been asked to participate, official sources said.

The government notified the SIT on May 27 after the Supreme Court had granted it one week to constitute the high-profile team comprising top bosses of country’s premier investigation, enforcement and intelligence agencies.

The meeting, the sources said, is expected to discuss the policy matters on combating the menace of black money and the status of ongoing probes and available inputs with all the departments in this regard.

The officers who would form part of the SIT include Secretary of the Department of Revenue under the Ministry of Finance, a Deputy Governor of RBI, Intelligence Bureau Director, Director of Enforcement Directorate, Director CBI, CBDT Chairman and Director General Narcotics Control Bureau.

DG Directorate of Revenue Intelligence, Director Financial Intelligence Unit, Secretary Research and Analysis Wing and Joint Secretary (Foreign Tax and Tax Research) in the Finance Ministry will be its other members.

The terms of reference for the SIT stipulate that it “shall have jurisdiction over all the cases, where investigation has already commenced or pending or awaiting to be initiated or have completed” with regard to instances of black money and illicit funds generated and sent to overseas destination and tax haven nations.

The SIT, the terms of reference said, “shall report to the Court and shall inform the Court of all major developments by filing periodic status reports from time to time and for this purpose, the Union of India shall accord all the necessary financial material, legal, diplomatic resources both inside and outside the country to the SIT”.

The Union Cabinet notified the designations of the members of the government agencies that would constitute the SIT after it held its first meeting on May 27.

“In the first Cabinet meeting of the new government…in the light of the directions of the SC, we have constituted an SIT for unearthing black money…This was an important issue for us,” Law Minister Ravi Shankar Prasad had told reporters after the meeting.

A government statement later said the SIT has been entrusted with the “responsibility and duties of investigation, initiation of proceedings and prosecution in cases of Hasan Ali and other matters involving unaccounted money.”

The SIT will also prepare a comprehensive action plan, including creation of an institutional structure that could enable the country to fight the battle against unaccounted money, it said.

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  1. A
    Abdulhalim Khan
    May 29, 2014 at 8:02 pm
    like the american system ,make few investigating department free from govt anchor .then only indian can hope to see the transparency and this is the valuable et for developed india .
    Reply
    1. S
      srinath
      May 30, 2014 at 8:52 am
      How many days it will take?
      Reply
      1. S
        Srini Bangalore
        May 29, 2014 at 7:15 pm
        Just 700 years ago, Kashmir was 100% HINDU. Hindus gave refuge to Muslims in Kashmir, since that day - to this day, Potion of Muslims in Kashmir have grown from 0% to 100%. So, what did they do with Hindus. Sikh guru Teg Bahadur Singh Ji, also had given his head while protecting Kashmiri Hindus from Muslims.The answer is: Hindus were given 3 options1. Convert to Muslims. 2. Be Slaughtered or Killed. 3. Exile.----------------------During first National parliamentary committee, all the Nationalists of India including Dr Ambedkar supported the Idea of making "Sanskrit" as the National Language of India, which was the mother of all the Indic and as well as most of foreign languages.But, the resolution was stopped and pushed out by Pseudo-British Indian National Congress.. present day UPA Govt!!!British main Objective was to disconnect present day India, to its glorious Ancient past and the best way to do was to destroy the backbone of Hindu Vedic Civilization i.e. Sanskrit.British then introduced and pushed their language English on Indians and highjacked the Indian education system. They also misinterpret the ancient Indian scriptures like, Bhagwata Gita, Ramayana, Mahabharata, Vedas and others... and distorted them such that, Indians should think that they are always been an Inferior civilization, and they also changed the flexible Varna System (Action and Duty based) to Rigid Caste System (tied to Birth) via social policies, governance and laws.We have been taught that, problem of India is India itself and that Indian-ness must be changed for India to rise... but, the Britishers and our own Marxist and Islamist historians will NEVER tell you about the Ancient India and its Glorious past.Recent studies have shown and doented (World Economy History, by Angus Madisson.. do some research on internet) that, from 1 AD till 1500 AD, India was the leading #1 economic power of the world and China was the #2, holding 55% of world GDP(combined).During 17th Century, China becomes the #1 and India #2, but still these two countries were holding more than 55% of world GDP.Again in 18th century, India surped China to become #1, holding 22% of world's GDP(India only).It was during and after 1820, Indian GDP started to fall rapidly and till 1990, Indian GDP fell to 1.2% of world's share. Britishers looted and destro entire Indian civilization with in 100 years.Now, for every sane and morally correct Indian, only "AN ENEMY" of our own Indian (Hindu) Civilization will say that, India and Indian culture is the problem and the cure is Western or Arabic culture...We must IDENTIFY these enemies in Media, Government, Society, Intellectuals, etc..We Hindus and Hindu Atheists (Ignorant secular), must try to learn and find out our own ROOTS and Civilization and we all must be ready to get up and fight for its protection and its very own survival or I should say its REVIVAL.Jai Hind and Vande Mataram.More Power to Aryavrata Bharata.
        Reply