NEW DELHI, May 30: 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 has been advanced and will now be held here on June 2.
Officials said the Department of Revenue under the Finance Ministry has finalised the date after rescheduling it from the earlier date of June 4 and invites have been sent 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.
“The date of the meeting has been advanced to June 2. It will be held under the chairmanship of Justice Shah,” a source privy to the development said.
The Government had notified the creation of SIT on May 27 after the Supreme Court had last week granted it one week to constitute the high—profile team comprising top bosses of the country’s premier investigation, enforcement and intelligence agencies.
The meeting, 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.” (PTI)
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