Huge amount of black money seized from Maoists, says SIT

A huge amount of black money, generated through illegal trade in narcotics and extortions, has been seized from Maoists, the Supreme Court-appointed SIT on black money said here today.

Illegal properties purchased by Maoist leaders have also been seized by various investigating agencies, the SIT's Vice Chairman Justice (retd) Arijit Pasayat said.

"For the first time, it has come to the notice of the SIT that Maoists have amassed a huge amount of black money and their leaders are utilizing that money in making fortunes. It is a new angle," the retired Supreme Court judge said.

"Directorate of Revenue Intelligence and Enforcement Directorate sleuths have seized narcotic drugs amounting to crores of rupees while being transported from Odisha's Malkanagiri area to Kolkata, Lucknow and New Delhi," he said.

The rebels are spending a part of the black money to expand their activities in various parts of the country, Justice (retd) Pasayat said after a meeting with the police and various agencies.

He, however, refused to divulge the exact amount of black money recovered from Maoists.

The SIT vice-chairman said the black money was generated through illegal trade in narcotics and extortions.

Justice (retd) Pasayat also disclosed that at least six educational institutions across the country had evaded tax amounting to Rs 700 crore. It has been recovered now.

"Some health institutions are also evading tax, and they have all come under the scanner of the SIT," Pasayat said.

The meeting was attended by officials of the Odisha Police, DRI, ED, CBI, SEBI, Income Tax and Central Economic Intelligence Bureau.

The retired judge said the agencies briefed the SIT on the status of black money cases being probed by them.