The first high-level meeting of the Special Investigation Team (SIT) on the issue of black money and special probe into cases of unaccounted funds stashed away abroad by Indians will be held here tomorrow.

The meeting, to be chaired by Justice (retd) M B Shah, will be attended by SIT Vice-Chairman Justice (retd) Arijit Pasayat and top officials of 11 high-profile agencies and departments.

Sources said the meeting is expected to discuss policy matters on combating the menace of black money and the status of ongoing probes and available inputs with all the departments in this regard.

"All the participating departments have been asked to bring a comprehensive status report of the probes they are conducting to brief the Chairman and the Vice-Chairman of the SIT," they said.

The Terms of Reference for the SIT, issued by the Department of Revenue under the Finance Ministry, states that the elite team will investigate all matters "with respect to unaccounted monies being stashed in foreign banks by Indians or other entities operating in India that may arise in the course of such investigations and proceedings."



Government had notified the creation of the SIT on May 27 after the Supreme Court had asked it to constitute the high-profile team comprising top bosses of the country's premier investigation, enforcement and intelligence agencies.

The officers who would form part of the SIT include Secretary of the Department of Revenue, a Deputy Governor of RBI, Intelligence Bureau Director, Director of Enforcement Directorate, Director CBI, CBDT Chairman and Director General Narcotics Control Bureau.

DG Directorate of Revenue Intelligence, Director Financial Intelligence Unit, Secretary Research and Analysis Wing and a Joint Secretary (Foreign Tax and Tax Research) in the Finance Ministry will be its other members.