Special Investigation Team (SIT) has asked the Enforcement Directorate and Directorate of Revenue Intelligence (DRI) to act against companies claiming duty drawback without repatriating export proceeds, to check black money menace. Finance Ministry in a release said, action is to be taken under Foreign Exchange Management Act (FEMA) with against 216 companies for the period upto 1st of March this year and 572 companies for the period after 1st of March. This will apply to each company, which had export proceeds pending for realisation for more than 100crore rupees.DRI has also been directed to check from its database the number of companies having claimed duty drawback but failing in bringing export proceeds, and to take necessary action against them. The SIT, which was set up by the government to look into issues relating to black money, also asked RBI to develop an institutional mechanism and IT system to red flag those cases where exports have been outstanding in violation of FEMA guidelines.