SIT submits 4th progress report on black money; SC to hear case in January

Zee Media Bureau

New Delhi: The Special Investigation Team (SIT) on black money submitted the fourth report on the progress of its probe on Tuesday. The Supreme Court will hear this matter in January.

It may be recalled that advocate Prashant Bhushan had raised the issue of SIT's third report submitted to the apex court in May and claimed that some portions of it have emerged in newspapers which made reference to Participatory Notes (P-Notes) for investing around Rs 3 lakh crore in the stock market.

P-Notes are instruments issued by registered foreign institutional investors to overseas investors, who wish to invest in the Indian stock markets without registering themselves with market regulator SEBI.

Earlier in the last hearing, noted jurist Ram Jethmalani on whose petition the SIT was constituted, had accused the NDA government and the previous UPA dispensation of failure to bring back black money stashed abroad.

He had also attacked the SIT, saying it is "loaded with people who are loyal to the previous government".

Jethmalani had said the July, 2011 judgement has been frustrated by successive governments which have played a "grave fraud" on the nation and the people.

With PTI Inputs