SIT probe into black money in Odisha has made headway: Justice Pasayat

New Delhi: Vice-Chairman of Special Investigation Team (SIT) and former Supreme Court judge Justice Arijit Pasayat on Thursday said the SIT has made some progress in its investigation into the black money in Odisha.

“Investigation into the black money trail is not a small thing. It’s not that the black money lies in a particular state. In fact the black money of the Indians is stacked in about 120 countries in the world. Keeping this in view, it is a big challenge for the SIT,” he said in an exclusive interview to OTV in New Delhi.

He said on the basis of the information received by the SIT, the Income Tax department has begun its assessment and the Enforcement Director has started its investigation and registered cases at some places.

To a question on whether the black money of India is with the Swiss Bank, Justice Pasayat said for him, the Swiss Bank is like a grandmother’s story.

“The fact remains that the black money of India has now spread to 120 countries. Earlier, it was very difficult to know the identity of the customers as the Swiss Bank as per its rules, was very secretive about it. However, the bank, in the last ten years, has made some exposure about its customers and of late, has started sharing information which has become really helpful. Due to sharing of information, a majority of customers, took away their black money from the bank and deposited in other banks in other countries.

Referring to the SIT probe into the black money in Odisha, Justice Pasayat said the SIT has made some ‘fruitful’ progress. I hope that there would be more progress in future.

Talking about the factors required for successful investigation, the former Supreme Court judge said, “The first step would be we must share information. Different countries, if they start sharing information, which, fortunately has started, then we can move ahead with our investigation.