New Cabinet Sets Up SIT On Black Money
The Cabinet set up SIT to implement the Supreme Court’s order on unearthing the black money stashed abroad.
After the Cabinet meeting, Law Minister Ravi Shankar Prasad said, “This indicates the commitment of the new government to pursue the issue of black money in the light of the Supreme Court’s order.”
May 28 was the last date to notify a SIT in this regard, as per the Supreme Court order.
The SIT will be headed by retired Supreme Court judge, MB Shah, while another retired SC judge, Arijit Pasayat, will be its co-chairman. The revenue secretary, RBI deputy governor, the chairman of the Central Board of Direct Taxes and the directors of the Intelligence Bureau, the Enforcement Directorate, the CBI, the Financial Intelligence Unit and the Research & Analysis Wing will be other members of this team.
The SIT will be responsible for probe, initiation of proceedings and prosecution in the Hasan Ali case and other matters related to the issue. It will submit a status report to the court periodically.
In its May 23 order, the apex court had asked the Centre to set up a SIT within a week.
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- A surprise visit: Tesla CEO Elon Musk heads to China after deferring India visit
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market