Black Money Abroad - Supreme Court Orders SIT - India's poor and suffering masses are rich morally
THE Supreme Court has ordered the constitution of a Special Investigation Team to investigate the black money stashed in foreign countries; The Team will be headed by Justice Jeevan Reddy as Chairman and Justice MB Shah as vice-chairman and will have as Members:
(i) Secretary, Department of Revenue;
(ii) Deputy Governor, Reserve Bank of India;
(iii) Director (IB);
(iv) Director, Enforcement;
(v) Director, CBI;
(vi) Chairman, CBDT;
(vii) DG, Narcotics Control Bureau;
(vii) DG, Revenue Intelligence;
(ix) Director, Financial Intelligence Unit; and
(x) JS (FT & TR-I), CBDT
In its judgement delivered yesterday, the Supreme Court observed,
Our people may be poor, and may be suffering from all manner of deprivation. However, the same poor and suffering masses are rich, morally and from a humanistic point of view. Their forbearance of the many foibles and failures of those who wield power, no less in their name and behalf than of the rich and the empowered, is itself indicative of their great qualities, of humanity, trust and tolerance. That greatness can only be matched by exercise of every sinew, and every resource, in the broad goal of our constitutional project of bringing to their lives dignity. The efforts that this Court makes in this regard, and will make in this respect and these matters, can only be conceived as a small and minor, though nevertheless necessary, part. Ultimately the protection of the Constitution and striving to promote its vision and values is an elemental mode of service to our people.
The Court ordered that:
++ The Union of India shall forthwith disclose to the Petitioners all those documents and information which they have secured from Germany, in connection with the matters discussed above, subject to the conditions specified in (ii) below;
++ That the Union of India is exempted from revealing the names of those individuals who have accounts in banks of Liechtenstein, and revealed to it by Germany, with respect of who investigations/enquiries are still in progress and no information or evidence of wrongdoing is yet available;
++ That the names of those individuals with bank accounts in Liechtenstein, as revealed by Germany, with respect of whom investigations have been concluded, either partially or wholly, and show cause notices issued and proceedings initiated may be disclosed; and
++ That the Special Investigation Team, constituted pursuant to the orders of today by this Court, shall take over the matter of investigation of the individuals whose names have been disclosed by Germany as having accounts in banks in Liechtenstein, and expeditiously conduct the same. The Special Investigation Team shall review the concluded matters also in this regard to assess whether investigations have been thoroughly and properly conducted or not, and on coming to the conclusion that there is a need for further investigation shall proceed further in the matter. After conclusion of such investigations by the Special Investigation Team, the Respondents may disclose the names with regard to whom show cause notices have been issued and proceedings initiated.