Submit report on black money: SC to SIT, govt

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Old 04-Sep-2015
Post Submit report on black money: SC to SIT, govt

The Supreme Court today asked the special investigation team (SIT) and the Central Government to file reports on the their efforts to crack down on people having black money in secret bank accounts in Switzerland and other foreign countries.
A special Bench headed by Chief Justice HL Dattu asked the SIT to file its fourth report on the status of its investigations aimed at bringing back all the black money stashed abroad.
The Bench said the Centre should specify the SIT recommendations it had already accepted and acted on. The next hearing is on October 28.
The apex court is hearing PILs by senior advocate Ram Jethmalani and others pleading for its intervention to eradicate the menace threatening to derail the country’s economy.
Attorney General Mukul Rohatgi, who appeared for the government, and senior advocate Dushyant Dave representing the SIT assured the Bench of complying with its order. In its third report given to the SC, the SIT said a sample study of Indian companies’ financial transactions in their global trade had supported a report that black money flows amounted to a staggering Rs 6 lakh crore in 2012 and Rs 27 lakh crore in the past 10 years.

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