No trust in govt, SC sets up SIT to probe black money

The Supreme Court on Monday set up a special investigation team (SIT) led by two retired judges to probe the black money issue and criticised the government in the matter. Jeevan Reddy and MB Shah, who are retired Supreme Court judges, will head the SIT. The Supreme Court has been monitoring the government's probe into black money stashed abroad and has repeatedly accused it of dragging its feet in the matter.

"It is a pure and simple theft of national money. We are talking about a mind-boggling crime, not niceties of various treaties," the court once said about the government's probe.

The court is expected to pass an order on revealing names of 26 Indians who kept black money in LGT bank. The Centre had opposed revealing the names of 26 account holders saying it would violate bi-lateral agreement.

Senior lawyer Ram Jethmalani and others had petitioned the Supreme Court to direct the Centre to bring back the black money.

source: Hindustan Times