Narendra Modi Led Govt forms SIT to probe black money as per SC orders Tuesday May 27,2014

The Narendra Modi Govt in its first ever Cabinet meet at the South Block on Tuesday May 27,2014 formed a Special Investigation Team to probe black money following the Supreme Court orders.

On its first day in office, Prime Minister Narendra Modi's's new government has constituted a Special Investigation Team or SIT to unearth and bring back black money stashed away abroad.
The one-and-a-half hour long Cabinet meeting rounded up a busy day for the new Prime Minister, who took oath on Monday evening along with 45 ministers. The Cabinet will meet again on Wednesday May 28,2014

The SIT will be headed by former Supreme Court judge M B Shah and will include Revenue Secretary, CBI and IB directors, Enforcement Directorate official, CBDT Chairman and RBI deputy governor.

Former Supreme Court judge Arijit Pasayat will be the vice-chairman of the panel.

The other members of the SIT are Director General of the Narcotics Control Bureau, Director General of Revenue Intelligence, Director of the Financial Intelligence Unit and a Joint Secretary in the Central Board of Direct Taxes.

The Supreme Court had last week granted the government one week to constitute the SIT for monitoring of all black money cases.

"In the first Cabinet of the new government...in the light of the directions of the SC, we have constituted an SIT for unearthing black money... This was an important issue for us," Law and Telecom Minister Ravi Shankar Prasad told