The Central Cabinet has formulated the Special Investigation Team on the Black Money hidden in foreign countries in the first meeting yesterday. The SIT will be headed by retired Chief Justice MB Shah. Another SC judge Arijit Pasayat will be the Vice Chairman of the team, which includes Revenue Secretary, Directors of CBI, IB, RAW and ED, the CBDT Chairman and an RBI Deputy Governor. The SIT was constituted as a top priority issue as the Supreme Court has directed the government to put up one before the 29th of this month.
Shah has said yesterday that he will ensure a speedy conclusion to the long pending issue. “The task is enormous. It will take some time. We will have to find out where black money is lying particularly in foreign countries. Let there be a notification then I will take over. There will be consultation with members then we will proceed,” Justice Shah said.
He welcomed the assistance of key personnel from other departments on the task. “I’m sure they must have already done some work and homework in this. Their cooperation is very necessary. This was pending for last two years. Court had passed specific orders which is now being implemented,” he said.
He has also said that he is aware of the complexities, but his history is a proof that he will ensure the completion of any task given to him in reasonable time.