Black Money Trail: What lies ahead?

In a significant step ahead in the Centre's black money trail, the government submitted a list of 627 names of those holding accounts in foreign banks to the Supreme Court.

Here is the latest on the issue - what happened and what lies ahead:

* The Government submitted three documents to the Supreme Court. The first document has the list of 627 names. The second has the details of the action taken so far and the third contains the different treaties entered into by the Government to secure the details.

* Attorney General Mukul Rohatgi: The list given is names of HSBC account holders given by French government in 2011 July.

* Supreme Court refuses to open the sealed envelope saying that the documents be placed before Special Investigation Team (SIT).

* Only SIT chairman and vice chairman can open the sealed envelope containing names of account holders: SC.

* SC allows Centre to put forth its grievances regarding various treaties with foreign countries before SIT.

* Supreme Court directs SIT to complete initial probe in black money case by March 2015. It asks SIT to submit status report of its probe by November-end.

* Each decision and action on black money is in hands of SIT. So, SC will keep calm till 'Final Status Report' is out.

* All assessments have to be completed by 31st March 2015, Sealed covers will be opened by SIT.