Millennium Post

PM keeps promise, sets up SIT to bring black money back

PM keeps promise, sets up SIT to bring black money back

While addressing the media, minister of telecommunication, law and justice Ravi Shankar Prasad said, ‘In the first cabinet meeting chaired by our prime minister it was decided to form a SIT to unearth black money. The SIT will be headed by former Supreme Court judge MB Shah with Arijit Pasayat being the vice-chairman.’

Justice Shah, who was earlier appointed as vice-chairman by a 4 July, 2011 order, will take the place of former apex court judge BP Jeevan Reddy.The SIT will bring together a volley of institutions together and will include directors of CBI, RAW, IB, financial intelligence; RBI deputy governor, CBDT chairman, revenue secretary, among others. Though Prasad didn’t reveal the time span of the whole investigation, he said it will soon place its report and action will be taken accordingly.

In February 2012, the then CBI director had claimed that Indians have $500 billion of illegal funds in foreign tax havens. On 29 April, 2014 the Centre revealed names of only 18 people in the SC who allegedly stashed black money in foreign banks. 

Some of the names included in the Centre’s affidavit list are: Mohan Manoj Dhupelia, Ambrish Manoj Dhupelia, Bhavya Manoj Dhupelia, Manoj Dhupelia, Rupal Dhupelia (Ambrunova Trust and Marline Management), Hasmuk Ishwarlal Gandhi, Chintan Hasmukh Gandhi, Madhu Hasmukh Gandhi, Late Mirav Hasmukh Gandhi (Manichi Trust), Chandrakant Ishwarlal Gandhi, Rajest Chandrakant Gandhi, Viraj Chandrakant Gandhi, Dhanalaxmi Chandrakant Gandhi (Ruvisha Trust), Arunkumar Ramniklal Mehta, Harshad Ramnikal Mehta (Dainese Stiftung and Dryade Satiftunf trust), KM Mammen (Webster Foundation) and few more.

Prasad said, ‘Apart from the black money issue, the establishment of a national judicial commission to give executive a say in appointment of judges was also decided in the meeting.’ He said, ‘Increasing the strength of judges, improvement of court infrastructure to make justice more accessible and making India a hub of international arbitration and reconciliation cases will also remain his priority areas.’

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