SIT probe not confined to just 627 names

Justice M B Shah, who heads the Special Investigation Team (SIT) looking into the black money cases, said that his probe was not confined to just 627 account holders of HSBC Bank Geneva.

It would cover other details of black money stashers as well being provided by independent sources.

Justice Shah told Deccan Herald the panel faced no impediment and would complete the probe into all 627 account holders before the end of the deadline of March 31, next year.
Justice Shah said, “There is no question of our not finishing the probe within the stipulated timeframe. I am 100 per cent sure we will complete it.”

The apex court has asked the SIT to submit a status report by the end of November.
The court has taken into record the sealed envelops furnished by Attorney General Mukul Rohatgi, containing the details of names of the account holders. The details were received by the government in 2011. The list had the information on account holders till 2006.

The AG had told the court that the investigation into those accounts has to be completed by March 31 next year in view of limitation prescribed under the tax laws.

Justice Shah, however, said that investigation by the SIT is not limited to 627 names. The SIT set up on the direction of the Supreme Court has also invited information from the general public about any person having bank accounts with black money in violation of tax laws.

More info likely

“We have already started getting information and we are likely to get more information,” he said.

Notably, the court has permitted advocate Prashant Bhushan who wanted to provide further information gathered from independent sources about black money stashers in foreign banks, to approach the SIT.

Justice Shah, a former SC judge, who also chaired the panel to inquire into illegal mining, said that the SIT is functioning without any hindrance and would complete the task assigned to it. To a query if the SIT faced any obstacle in its probe, he said, “so far I am there, there would not be any handicap or obstacle.”