A bench headed by Justice B Sudershan Reddy said the issue is not related to one case but is much wider and asked the government to consider setting up an SIT comprising officers from different departments including the Enforcement Directorate, the CBI and the IT to look into it.
"We are not talking about one case but many cases are involved in it. This is much wider," the bench said.
"In principle, do you have any objection to setting up of SIT to look into the matter?" the bench asked the government.
It told the Centre to respond on the next date of hearing on March 28 about its stand and the possible composition of the SIT.
"Before we discuss this issue, both of you (the government and the petitioner) tell us about possible composition of SIT, if the need arises, for setting up the same," the court said.
The court was hearing a petition filed by eminent criminal lawyer Ram Jethmalani seeking direction to the government to take steps in bringing back black money stashed by Indian nationals in foreign banks, which is said to be to the tune of 1 trillion US dollars.