Wednesday, May 28, 2014

Black Money: New panel comprises revenue secretary, CBI director, IB director, CBDT chairman among others

PM with cabinet secretary Seth and principal secretary Misra
THE Union Cabinet on Tuesday approved setting up of Special Investigating Team (SIT) headed by former judge of the Supreme Court of India, Justice MB Shah, to unearth black money stashed abroad. Only four days ago, the apex court had directed the Centre to keep all papers relating to black money in the safe custody of an officer, not below the rank of revenue secretary in the backdrop of the last Thursday’s fire at Shastri Bhawan. Incidentally, current revenue secretary Rajiv Takru is a Gujarat cadre IAS of…
1979 batch. The Supreme Court on Friday had granted one more week to the Centre to set up the SIT headed by its former Judge MB Shah to monitor black money cases.
On Tuesday, the Cabinet chaired by prime minister Narendra Modi approved constitution of the SIT to implement the decision of the Supreme Court on large amounts of money stashed abroad by evading taxes or generated through unlawful activities. Justice Arijit Pasayat will be the vice-chairman of the panel.
The members of the high level committee will be:
a) Secretary, department of revenue
b) Deputy governor, Reserve Bank of India
c) Director-Intelligence Bureau
d) Director, Enforcement
e) Director, CBI
f) Chairman, CBDT
g) Director General, Narcotics Control Bureau
h) Director General, Revenue Intelligence
i) Director, Financial Intelligence Unit
j) Director, Research and Analysis Wing
k) Joint secretary (FTand IR-1), CBDT
The SIT has been charged with the responsibility and duties of investigation, initiation of proceedings and prosecution in cases of Hasan Ali and other matters involving unaccounted money, according to a statement issued by the cabinet secretariat. The SIT will have jurisdiction in the cases where investigations have already commenced or are pending or awaiting to be initiated or have been completed. SIT 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 statement added.

1 comment:

  1. Rajivt be from Takru might be from Gujarat Cadre but he is known to be a Congress man. He escaped from Gujarat and served in the centre during most part of his last decade. There are indications that he might be transferred out from the Ministry of Finance. He is considered a strong loyalist of the first family of the Congress (read Gandhis).