|PM with cabinet secretary Seth and principal secretary Misra|
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.