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Need cooperation from Swiss banks to bring back black money: SIT chief

Chief of the Special Investigation Team (SIT) on black money, Justice MB Shah, on Sunday said it was not difficult to bring back the black money to the country but added that it would require cooperation from the Swiss banks.

“Inquiry is going on, but how much time it takes cannot be said. It’s not difficult to bring back black money but if the banks of Switzerland will cooperate then the money will come back,” Justice Shah said.

He added that nobody knew yet how much money was stashed abroad and how much of it could be brought back.

“It’s good for the country to bring back black money, but as of now nobody knows how much can be brought back and how much is abroad and even I cannot say anything on it,” he added.

Attorney General Mukul Rohatgi had earlier on Wednesday submitted three sets of documents, containing the list of 627 people having illegal accounts in foreign banks to the Supreme Court in a sealed cover. The government had also submitted a status report in a sealed cover.

The apex court, which directed the investigating agency to submit the status report of its probe by the end of November, said only the SIT chairman and vice-chairman can open the seal.

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