SC on black money: Govt says action after studying the order

The government today said the future course of action on black money will be decided after studying the Supreme Court order to appoint a high-level team to monitor the investigation and the steps being taken to bring illegal wealth stashed away in foreign banks.

The government on said the future course of action on black money will be decided after studying the Supreme Court order to appoint a high-level team to monitor the investigation and the steps being taken to bring illegal wealth stashed away in foreign banks.

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"... we will examine it (the order)...and then we will decide what course of action will be necessary," finance minister Pranab Mukherjee told reporters when asked to comment on the Supreme Court's order on black money.

Home Minister P Chidambaram said, "I do not think one should give off-the-cuff reaction on a Supreme Court order. If Supreme Court has given an order it is final because it is the final court. Let us first read the order."

The Supreme Court today appointed a high-level Special Investigation Team (SIT) headed by former Supreme Court judge B P Jeevan Reddy to monitor the investigation and the steps being taken to bring back black money stashed away in foreign banks.

Besides Justice Reddy, who will be the chairman of the SIT, the apex court appointed former judge M B Shah as the vice-chairman of the panel.

A bench comprising justices B Sudershan Reddy and S S Nijjar passed the order on a petition filed by eminent jurist Ram Jethmalani and others seeking directions to the government to track black money stashed away abroad and bring it back.