September 4, 2015 9:06 AM

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SC asks Centre to submit details of steps taken to implement SIT recommendations on Black Money

Supreme Court has asked Centre about the steps taken to implement Special Investigation Team, SIT's recommendations to bring back moneys stashed in foreign banks.<br/><br/>A bench comprising Chief Justice HL Dattu and Justices MB Lokur and AK Sikri also asked the SIT on black money to submit the fourth report on the progress of its probe by October 7. The apex court posted the matter for further hearing on October 28.<br/><br/>Senior advocate Dushyant Dave, appearing for the SIT, informed the bench that the subsequent report on the progress of investigation would be complete by the month end and sought its nod to place before the court in October.<br/><br/>His request that Attorney General Mukul Rohatgi be asked to inform about the action taken by the Centre on SIT's recommendation was also accepted by the bench.<br/><br/>Advocate Prashant Bhushan 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 3 lakh crore rupees in the stock market. '<br/><br/>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.

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