PMLA: SC Agrees To List Plea Seeking Review of Judgement Affirming ED's Powers
IANS 22 August 2022
The Supreme Court on Monday agreed to list a plea seeking review of its judgement upholding the enforcement directorate's (ED's) powers in connection with attachment of property involved in money laundering, arrest, search and seizure under the Prevention of Money Laundering Act (PMLA).
 
As counsel mentioned the matter before a bench headed by chief justice NV Ramana, the bench said: "Okay, we will list it."
 
Only on 27th July, the top court affirmed the stringent provisions of PMLA in connection with definition of proceeds of crime, power of arrest, search & seizure, attachment of properties and also the twin bail conditions.
 
A bench headed by justice AM Khanwilkar (now retired) and comprising justices Dinesh Maheshwari and CT Ravikumar said: "The international bodies have been discussing the menace of money laundering on regular basis for quite some time; and strongly recommended enactment of stringent legislation for prevention of money laundering and combating with the menace thereof including to prosecute the offenders and for attachment and confiscation of the proceeds of crime having direct impact on the financial systems and sovereignty and integrity of the countries."
 
It added that money laundering is one of the heinous crimes, which not only affects the social and economic fabric of the nation, but also tends to promote other heinous offences, such as terrorism, offences related to NDPS Act (Narcotic Drugs and Psychotropic Substances Act, 1985), etc.
 
The top court affirmed the validity of Sections 5 (attachment of property), 8(4) (taking possession of attached property),3 (definition of money laundering), 17 (search and seizure), 18 (search of persons), 19 (powers of arrest), 24 (reverse burden of proof), 45 (offences being cognisable and non-bailable and twin conditions for grant of bail by court), 50 (statements made to ED officials), and 44 (offences triable by special court).
 
However, the top court left the question whether some of the amendments to the PMLA, 2002 could not have been enacted by the Parliament by way of a Finance Act, to be considered by a larger bench.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
Comments
saharaaj
3 months ago
It may follow western method post draft judgement so tha t comment can be heard on the judgement and after 15 days final judgement is entered
vachoudary
Replied to saharaaj comment 3 months ago
we agree PMLA is a henious crime and why not same priority not given to distributing cash for votes in elections ? if u have right environment u will see right things.
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