Black money: SIT submits reports to SC

The bench after perusing the report expressed satisfaction over the steps taken by the Special Investigation Team

The Special Investigation Team (SIT) on black money submitted its first report in the Supreme Court on Wednesday.

A three-judge Bench of Justices H.L. Dattu, Ms. Ranjana Desai and Madan B Lokur after perusing the report submitted in a sealed cover expressed satisfaction on the steps taken by the SIT for bringing back black money stashed away by Indians in foreign banks.

Justice Dattu told senior counsel Anil Divan and the petitioner senior advocate and Member of Parliament Ram Jethmalani that the report was confidential but some progress had been made. When Mr. Jethmalani requested copy of the report, Justice Dattu said he could make that request to the SIT. 

The Bench in a brief order said “the first report of the SIT on black money is taken on record. Insofar as the request made by Mr. Jethmalani in the letters written to German authorities and the response received from Germany, the letters may be handed over to the Additional Solicitor General Neeraj Kishan Kaul who will take instructions and inform the same to the court on the next date of hearing.” 

The bench permitted Mr. Jethmalani and his counsel Mr. Divan to interact with the SIT members on the nuances of the case and the possible ways of getting the black money stashed abroad. The bench made it clear that they could only suggest means and methods to the SIT of getting back the black money. The bench said the SIT should proceed with the task assigned to them by the apex court and submit a progress report in two months. 

The SIT, apart from Justice M.B. Shah as Chairman has another former judge of the apex court, Arijit Pasayat, as its vice-chairman besides 11 members, who are the heads of a number of investigative and enforcement agencies of the country.

Mr. Divan submitted that the Centre had not yet disclosed the names of persons with respect of whom investigations were concluded and no evidence of tax evasion in terms of Indian tax laws was found, the Bench asked the ASG to look into the matter and posted the case for further hearing on November 11.