Expressing serious concern over the allegations about huge transaction of money being made under the table by some charitable trusts and educational institutions, Special Investigation Team (SIT) on Black Money Vice-Chairman Justice Arijit Pasayat on Saturday said the main focus of the SIT would be to trace and stop generation of domestic black money in the country. The former Supreme Court judge after chairing a high-level meeting with senior State and Central Government officials at his residence in Cuttack said, “The volume of black money stashed in India is much more than it is now in the foreign countries.”
“The allegation against charitable trusts and educational institutions are a matter of serious concern. These allegations are under the scrutiny of the Income Tax Department and the Enforcement Directorate (ED), which have taken steps in some cases,” said Pasayat.
With regard to the chit fund scam, he the role of ED is more important than the IT Department, he said.
“With regard to the mining scam, the SIT is probing income tax and money laundering aspects. We are gradually moving ahead with our investigation,” said Pasayat.
He said so far as illegal stacking of iron ore at the Renjeda railway siding at Koida is concerned, since the State Mines Department has not taken steps till date, it would not be proper to say anything on this matter.