SIT on black money to meet in Cuttack today

Cuttack: The Special Investigation Team (SIT) will hold a meeting on the issue of black money today to review tax evasion and money laundering cases. The meeting will be chaired by SIT vice-chairman Justice Arijit Pashayat in presence of the director of the Enforcement Directorate (ED).

Notably, the SIT has been formed to unearth black money. Meanwhile, it has recommended the Centre to take steps to curb black money from the economy. As per the recommendation, money transaction of more than Rs 3 lakh should be made in cheques and a person cannot keep cash money more than Rs 15 lakh. This was informed by Justice Pashayat recently.

Sources said the SIT would soon come up with the report. Headed by Justice MB Shah and Justice Pasayat, the SIT has 11 agencies working under it.