Union Cabinet constituted SIT on Black Money to comply with SC Judgement

SIT has been constituted by Union Cabinet to implement the decision of Supreme Court on large amounts of money stashed abroad.

Created On: May 28, 2014 13:00 ISTModified On: May 28, 2014 13:08 IST

The Union Cabinet headed by PM Narendra Modi on 27 May 2014 constituted Special Investigating Team (SIT) on Black Money. The decision was taken to comply with the Supreme Court Judgement on Black Money.

Former judge of Supreme Court Justice MB Shah will head the SIT as its Chairman and Justice Arijit Pasayat will be its Vice Chairman. The other members of the SIT will be
• Secretary, Department of Revenue
• Deputy Governor, Reserve Bank of India,
• Director (IB)
• Director, Enforcement
• Director, CBI
• Chairman, CBDT,
• Director General, Narcotics Control Bureau
• Director General, Revenue Intelligence
• Director, Financial Intelligence Unit
• Director, Research and Analysis Wing and
• Joint Secretary (FT&IR-1), CBDT

 Work Responsibility of SIT will be
• Responsibility and duties of investigation
• Initiation of proceedings and prosecution in cases of Hasan Ali and other matters involving unaccounted money
• It will have jurisdiction in cases where investigations have already commenced or are pending or awaiting to be initiated or have been completed
• It will be responsible for preparation of a comprehensive action plan which includes creation of necessary institutional structure that could enable the country to fight the battle against unaccounted money
• SIT is also supposed to report the proceedings of the report to the Court the status of work from time to time

Chronology of SC Judgement on Black Money

4 July 2011: SC directed the Union Government to set up SIT headed by a retired SC Judge to probe the names of account holders in LGT Bank of Switzerland.
1 May 2014: SC dismissed review petition filed by UPA-II Government against 2011 order
4 May 2014: SC directed Union Government to notify SIT headed by Justice (retd) M B Shah within three weeks
16 May 2014: UPA-II Government once again files a petition seeking recall of order to set up SIT

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एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

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