Modi government forms SIT to probe black money

As per the Supreme Court directive, the Narendra Modi government has formed a Special Investigation Team (SIT) to probe into the black money cases. The decision was taken by the newly elected government in its first ever Cabinet meet.

The SIT will be headed by former Supreme Court judge M B Shah and former Supreme Court judge Arijit Pasayat will be the vice-chairman of the team. The panel includes Revenue Secretary, CBI and IB directors, Enforcement Directorate official, CBDT Chairman, Director General of the Narcotics Control Bureau, Director General of Revenue Intelligence, Director of the Financial Intelligence Unit, Joint Secretary in the Central Board of Direct Taxes and RBI deputy governor.

“In the first Cabinet 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 and Telecom Minister Ravi Shankar Prasad informed media after the cabinet meet.

Slamming UPA for “earlier delays”, Ravi Shankar Prasad said, “Tomorrow is the last date (for setting up of SIT), therefore the very first agenda in accordance with its (NDA’s) policy commitment was to have this very high-profile SIT”.

The Supreme Court had given one week extended time to government to form the SIT to probe all cases related to black money. With this decision Prime Minister Narendra Modi has given a strong signal that NDA is serious to bring back black money from foreign countries.

“The SIT has been charged with the responsibility and duties of investigation, initiation of proceedings and prosecution in cases of Hasan Ali and other matters involving unaccounted money. It will also revisit cases where probe has been finished,” the statement said.

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