Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

India government sets up SIT to probe black money  Join our daily free Newsletter

MENAFN - Khaleej Times - 30/05/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Khaleej Times) In one of its first major moves the narendra modi government has set up a high-profile special investigating team (sit) headed by a former supreme court judge to unearth the large amounts of illegal wealth allegedly stashed abroad by people who have evaded taxes or generated the money through illegal activities.

the decision was taken at the first meeting of the union cabinet held here on tuesday a day after modi and his council of ministers were sworn in.

a press release said the move was aimed at implementing a directive of the supreme court in this regard which had asked the government to outline the concrete measures taken by it to bring back such wealth to the country. last week the court had given the government a week to set up the sit and report to it.

the previous manmohan singh government had assured the court that the issue was being looked into and wednesday was the last day for apprising it of the steps taken.

modi and his bharatiya janata party which swept the recent polls to the country’s lower house of parliament had raised the issues of corruption and “black money” frequently during the election campaign and promised to act to bring back to the country such wealth stashed abroad. they had accused the previous congress-led united progressive alliance of inaction in the matter.

the sit will be headed by justice m.b. shah former judge of the supreme court as chairman and justice arijit pasayat former judge as vice-chairman the release said.

members of the sit include the heads of several financial and economic departments as well as intelligence and enforcement agencies. they are the secretary department of revenue; deputy governor reserve bank of india; director intelligence bureau; director enforcement; director central bureau of investigation; chairman of the central board of direct taxes; 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.

the sit has been charged with the responsibility and duties of investigation initiation of proceedings and prosecution in cases of businessman hasan ali and other matters involving unaccounted money an official press release said.

the release said the sit would have jurisdiction in the cases where investigations have already commenced or are pending or awaiting to be initiated or have been completed. it will prepare a comprehensive action plan including creation of necessary institutional structure that could enable the country to fight the battle against unaccounted money.

the sit should report to the court the status of work from time to time the release added.

“tomorrow is the last date for the government’s response in this regard. the modi government has responded promptly without seeking any further time from the court’’ law and justice minister ravi shankar prasad told journalists here.


for more news from khaleej times follow us on facebook at facebook.com/khaleejtimes and on twitter at ?khaleejtimes

follow ?khaleejtimes -->


Khaleej Times

  MENA News Headlines
 Oct 27 2016 - [One Day Live Training] Mixing In Stirred Tanks - Dublin, Ireland - November 08, 2016MENAFN Press
(MENAFN Press) [One Day Live Training] Mixing In Stirred Tanks - Dublin, Ireland - November 08, 2016 Mixing in Stirred Tanks - a one day training to enable chemical engineers with the latest ...

 Oct 27 2016 - NY Governor Andrew M. Cuomo is Violating the Human Rights of the DisabledMENAFN Press
(MENAFN Press) NY Governor Andrew M. Cuomo is Violating the Human Rights of the Disabled Jonathan Carey "Champion for the Disabled" Born September 12,1993 Killed by caregivers on February 15,2007 ...

 Oct 27 2016 - US$ 859 Mn Benelux Power Tools Market Poised for Steady GrowthMENAFN Press
(MENAFN Press) US$ 859 Mn Benelux Power Tools Market Poised for Steady Growth Benelux shipments of power tools reached 10 million units in 2016, with Netherlands continuing its position as the ...

 Oct 27 2016 - Digle is Challenging the Search Ecosystem, Removing the Robots, and Making Results more RelevantMENAFN Press
(MENAFN Press) Digle is Challenging the Search Ecosystem, Removing the Robots, and Making Results more Relevant Digle.com is responding to the need for a better way to perform complex searches ...

 Oct 27 2016 - Simply Supplements release my NutripackTM, personalised nutrition at affordable prices.MENAFN Press
(MENAFN Press) Simply Supplements release my NutripackTM, personalised nutrition at affordable prices. Simply Supplements, one of the UK's leading mail order and online supplements suppliers are ...

 Oct 27 2016 - Levenhuk introduces LabZZ optics for kids and teenagersMENAFN Press
(MENAFN Press) Levenhuk introduces LabZZ optics for kids and teenagers Levenhuk LabZZ optical products are designed especially for the youngest users. They have compact dimensions, light ...

 Oct 27 2016 - A not-to-be-missed exhibition of 145 transformative projects from 50 universities in 30 countriesMENAFN Press
(MENAFN Press) Global Grad Show, the largest exhibition of graduate design and innovation from universities around the world, is back with a five-fold increase in participation since its first ...

 Oct 27 2016 - Visa signs exclusive co-branded cards partnership with Etihad Aviation Group’s Global Loyalty CompanyMENAFN Press
(MENAFN Press) Visa (NYSE:V), a global payments technology company, today signed a multi-year partnership with Global Loyalty Company (GLC), to develop a range of co-branded credit, debit and charge ...

 Oct 27 2016 - Emirates Post Group develops core mail servicesMENAFN Press
(MENAFN Press) Emirates Post Group is devoting greater attention to its core mail services in post offices, as well as innovative non-postal services, in the light of the global trends of falling ...

 Oct 27 2016 - Automotive Fuel Tank Market - Global Industry AnalysisWith Future Forecast 2024MENAFN Press
(MENAFN Press) Due to the increase in vehicle production, there has been a growing demand of automotive fuel tank market. Automotive fuel tank is a part of an engine system where the fuel is stored ...





Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help