New Delhi: The Special Investigation Team (SIT) set up by the Centre to probe black money stashed by Indians abroad had its first meeting on Monday during which the roadmap on how to proceed further was decided.
Sources privy to the meeting said that the SIT headed by former Supreme Court Judge M B Shah decided to examine whether some of the black money cases could be put on fast-track.
After nearly two-hour long deliberations, the Finance Ministry came out with a brief statement saying that "during the meeting, detailed modalities of proceeding further with the Supreme Court mandate were discussed and the roadmap decided."
Without elaborating on the roadmap, the statement said the next meeting of the SIT will be convened shortly to take stock of the follow-up of the decisions taken at today's parleys.
However, sources in the meeting said that probe agencies like Enforcement Directorate, the CBI and other financial probe agencies were asked to submit the number of black money and money laundering cases pending before them and the progress of the probe.
The meeting was chaired by 75-year-old Shah and attended by former Supreme Court Justice (retd) Arijit Pasayat as its vice chairman and top officials of 11 high-profile agencies and departments including Intelligence Bureau, Research and Analysis Wing, CBI and Enforcement Directorate.
According to the sources, framing of policy for tackling the menace of black money and the status of ongoing probes and available inputs with all the departments in this regard was discussed.
Neither Shah nor 69-year-old Pasayat spoke about the deliberations at the meeting to the waiting journalists outside North Block which houses the Finance Ministry.
"It was a good meeting," was all that Shah said.
The Terms of Reference for the SIT states that the elite team will investigate all matters "with respect to unaccounted monies being stashed in foreign banks by Indians or other entities operating in India that may arise in the course of such investigations and proceedings."
Government had notified the creation of the SIT on May 27 after the Supreme Court had asked it to constitute the high profile team comprising top bosses of the country's premier investigation, enforcement and intelligence agencies.
SIT was constituted in the first Cabinet decision of the Narendra Modi government to implement the decision of the Apex Court on large amounts of money stashed abroad by evading taxes or generated through unlawful activities.
