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File status report by May 12, Supreme Court tells Special Investigation Team

The Supreme Court on Tuesday asked the Special Investigation Team (SIT) to file by May 12 the status report pertaining to the probe into the black money stashed away by Indians in the HSBC bank in Geneva.

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The Supreme Court on Tuesday asked the Special Investigation Team (SIT) to file by May 12 the status report pertaining to the probe into the black money stashed away by Indians in the HSBC bank in Geneva.
The Centre has already submitted a list of 627 Indian accounts holders in the bank.

A bench headed by Chief Justice of India (CJI) H L Dattu asked the SIT to make available the status report by May 12 after senior advocate Anil Divan on behalf of petitioner Ram Jethmalani requested the bench to supply a copy of the report to him.

Appearing for SIT, counsel Soli Sorabjee informed the bench that the report relating to progress of the probe will be filed by next month.

Meanwhile, Jethmalani sought the bench to give him an urgent hearing as he has got some information on black money from his sources abroad which, he said, is "shocking."

"I have something shocking. There has been attempts to frustrate this court's judegment to bring back the illegal money parked in various foreign banks," Jethmalani contended.

To his submission, the bench requested him not to reveal his information at this stage and asked him to wait till the SIT report is filed.

The apex court has appointed the SIT headed by its chairman Justice M B Shah and vice chairman Justice Arijit Pasayat (both are retired judges of Supreme Court) to consider various suggestions to bring back illegal black money stashed abroad.

The bench also directed the SIT to evolve its own procedure on the kind of probe needed into these accounts and also to evolve the process on how to get the black money back.

The issue concerns a list of 627 Indians who have accounts in HSBC Bank, Geneva, in which tax probe for suspected black money was completed by March 31, 2015 the deadline under the law.

The panel is yet to file its report after examining all the Indian account holders in the bank.

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