THE Supreme Court of India today appointed a high-powered Special Investigation Team (SIT) to look into the black money-related issues. This is to be headed by former SC Judge, Justice B P Jeevan Reddy. A retired judge Justice M B Shah will be the Vice-Chairman.

The Bench of Justice B Sudershan Reddy and Justice S S Nijjar also directed that the the High-Level Committee set up by the Govt to probe into the black money issue will now be a part of the SIT.

While ordering the Govt to immediately notify the SIT, the Bench observed that the quantum of money in foreign banks is a rough measure of 'softness' and 'weakness' of the Nation.

Lambasting the Govt the Bench noted that ''it was only on the court's insistence that proper investigation was conducted ... we hold that continued involvement of the court is necessary''.