Since Note ban worth Rs.70,000 Cr Black money Detected : Justice Arjit pasayat

Deputy Chairman of the Supreme Court-appointed SIT on black money, Justice Arijit Pasayat said that worth Rs. 70,000 crore Black money has been unearthed through different schemes of the government.

After meeting with officers of several government agencies dealing with economic and financial affairs he informed that the sixth interim report on it will be submitted to the Supreme Court in April. and More than Rs. 16,000 Cr of the Rs. 70,000 Cr was detected after probe launched into global leaks about Indians stashing funds abroad.

He said the SIT made several recommendations in the past two years through its interim reports to check generation of black money while most of our recommendations have been accepted by the government and some are under consideration

He also added that on the SIT’s recommendation the Govt has already declared that cash transaction beyond Rs. 3 lakh will be treated as illegal and punishable under law.

Justice Pasayat said he has asked the state crime branch, probing various wrongdoings of private educational institutions, jewellery shops, real estate companies, self-styled godmen, mafia dons, to share their findings with sleuths of the Income Tax department and the Enforcement Directorate for a thorough probe.