Summary
A public-interest petition sought a CBI inquiry into Indian offshore accounts disclosed in the Panama Papers and investigation of alleged regulatory failures. The Court found that the existing black-money SIT’s mandate covered those concerns and that a Multi Agency Group was reporting to it. Recording assurances of continued reporting and compliance with directions, the Court declined further directions and disposed of the petitions.
Issues
- Whether a separate investigation mechanism or further judicial directions were necessary for the Panama Papers allegations.
- Whether existing SIT oversight and Multi Agency Group reporting addressed the petition’s concerns.
Held
- Public-interest jurisdiction can address public-authority inaction and abuse of power, but must be exercised cautiously. Governance is primarily an executive function and intervention requires a clear abuse of power or failure of governance. (¶ 8)
- The existing Supreme Court-constituted SIT’s mandate extended to unaccounted foreign money and related investigations, proceedings, prosecution and institutional measures. It encompassed the subject matter of the petition. (¶ 9)
- The Court recorded the respondents’ assurance that further Multi Agency Group reports would go to the SIT and that the group would comply with directions of the SIT or the Court in the pending black-money proceeding. Those arrangements addressed the concerns raised and made further directions unnecessary. (¶ 10)
Result
Writ petition and connected special leave petition disposed of without further directions, recording continued Multi Agency Group reporting to and compliance with the existing SIT oversight mechanism.