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SC to deliver verdict on pleas challenging Money Laundering Act

By Shgun S -- July 27, 2022 7:45 am -- Updated:July 27, 2022 7:45 am

New Delhi, July 27: The Supreme Court on Wednesday will deliver its judgment on a slew of pleas challenging the various provisions of the Prevention of Money Laundering Act (PMLA).

The verdict by the bench of Justices AM Khanwilkar, Dinesh Maheshwari and CT Ravi Kumar is likely to affect several opposition leaders including Congress' interim president Sonia Gandhi and Rahul Gandhi, who are under the scanner of the Central investigating agency.

Earlier, on July 15, the Supreme Court said that its judgment on the pleas challenging the provisions of the Prevention of Money Laundering Act (PMLA) is "almost ready".

The pleas are concerned with the interpretation of the Prevention of Money Laundering Act, 2002.

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The apex Court has earlier reserved its order on petitions challenging certain provisions of the Prevention of Money Laundering Act (PMLA). Politician Karti Chidambaram and Mehbooba Mufti, a former chief minister of Jammu and Kashmir, are among the petitioners.

The batch of petitions raised multiple issues including one of the absences of procedure to commence investigation and summoning and the accused is not made aware of the contents of the Enforcement Case Information Report (ECIR).

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Mehbooba Mufti had challenged constitutional vires of Section 50, and any incidental provisions of the PMLA 2002.

According to Section 50 of the PMLA, any individual may be summoned to provide testimony or provide evidence by the "authority," which are officers of the Enforcement Directorate. All people who have been summoned are obligated to answer questions and provide the documents sought by the ED officials; otherwise, they risk PMLA penalties.

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However, the Center had provided data backing the constitutionality of the PMLA's provisions. The Center has supported the PMLA amendments, asserting that money laundering threatens not only financial systems but also national integrity and sovereignty because it is carried out not just by corrupt businessmen like Vijay Mallya or Nirav Modi but also by terrorist organisations.

Overall, 242 appeals have been filed on the issue. Farooq Abdullah, the former chief minister of Jammu and Kashmir, Sonia Gandhi, and Partha Chatterjee of the Trinamool Congress are three prominent names who are currently under the ED scanner.

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-PTC News

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