Cover Story: SIT & Its Mandate
This Supreme Court monitored team will be chaired by Justice (retd) M B Shah, and will be supported by vice-Chairman Justice (retd) Arijit Pasayat and top officials of 11 high-profile agencies and departments which include DG of the Narcotics Control Bureau, DG of Revenue Intelligence, Director of the Financial Intelligence Unit and a Joint Secretary in the Central Board of Direct Taxes. As per the mandate of the investigation, “The SIT has been charged with the responsibility and duties of investigation, initiation of proceedings and prosecution in cases of Hasan Ali and other mattersinvolving unaccounted money”. The panel will have jurisdiction in cases where investigations have commenced, are pending, are waiting to be initiated or have been completed. The SIT is also asked to prepare a comprehensive action plan, including creation of the institutional structure that will enable the country to fight the battle against unaccounted money. In its first meeting held on 2nd June 2014, the high level team has discussed the strategy to 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.”
