Economy

Apex court seeks Govt's views on special team on black money

Our Bureau New Delhi | Updated on March 18, 2011 Published on March 18, 2011

The Supreme Court on Friday sought the Centre's views on the constituting a Special Investigation Team (SIT) to look into the issue of black money stashed overseas by Indian citizens.

It asked the Centre to state its stand on the SIT and its composition on March 28, the next date of hearing.

The court was hearing a petition filed by eminent jurist Mr Ram Jethmalani seeking the court's direction to the Government to initiate measures to retrieve black money worth over $1 trillion stashed by Indian citizens in foreign banks.

It said the issue has wider ramifications and asked the Government to look into constituting an SIT that has officers from different departments and agencies including the Income-Tax Department, the CBI and the Enforcement Directorate.

The court sought to know from the Government whether it has any reservations regarding setting up an SIT to look into the matter.

Published on March 18, 2011
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