Rs 70,000 cr black money detected so far: SIT Deputy Justice Pasayat

Source: The Hitavada      Date: 03 Mar 2017 09:16:02


CUTTACK,

Mar 2,

(Agencies),

SIT on black money to submit its sixth interim report to Supreme Court in April.
Rs 70,000 crore of black money, including more than Rs 16,000 crore detected after probe launched into global leaks about Indians stashing funds abroad, has been unearthed through different Government schemes.

DEPUTY Chairman of the Supreme Court-appointed SIT on black money, Justice Arijit Pasayat, on Thursday said that Rs 70,000 crore of black money has been unearthed so far and the sixth report on it will be submitted to the apex court in April.


He said, Rs 70,000 crore of black money, including more than Rs 16,000 crore detected after probe launched into global leaks about Indians stashing funds abroad, has been unearthed through different schemes of the Government.


After a meeting with officers of several Government agencies dealing with economic and financial affairs here, Justice Pasayat informed that the SIT will submit its sixth interim report to the Supreme Court in the first week of April.
He said that the SIT made several recommendations in the past two years through its interim reports to check generation of black money.


“While most of our recommendations have been accepted by the Government, some are under active consideration to clampdown on black money,” he said. “One of our proposals, on cash holding of Rs 15 lakh or more to be presumed as undisclosed, is under serious consideration of the Central Government,” Justice Pasayat said, adding that on the SIT’s recommendation the Government has already declared that cash transaction beyond Rs 3 lakh will be treated as illegal and punishable under law.


He said a probe is on into the cash holding and properties of self-proclaimed godmen in Odisha.
“Investigations into the alleged black money and benami properties of self-styled godmen in Odisha have been effective so far. It will continue further,” he added.
Several self-proclaimed godmen including Sarathi Baba and Sura Baba have been arrested and they are languishing in jail on several charges.


On Odisha specific economic offences and unearthing of black money, he said, Thursday’s meeting was specifically convened to ensure smooth coordination between all investigating agencies in sharing their findings with other agencies for easy detection of ill-gotten money.


Justice Pasayat said that he has asked the state crime branch, probing various wrongdoings of private educational institutions, jewellery shops, real estate companies, self-styled godmen, mafia dons, to share their findings with sleuths of the Income Tax Department and the Enforcement Directorate for a thorough probe. Issues pertaining to black money, chit funds and self-proclaimed godmen were discussed at the meeting.