PMLA
Without Proving Knowledge About Proceeds Of Crime, Can Money Laundering Be Presumed? Supreme Court Asks ED
The Supreme Court on Thursday resumed hearing the string of petitions challenging the constitutional validity of several provisions of the PMLA Act.Additional Solicitor General S. V. Raju continued his submissions on behalf of the Enforcement Directorate.Does it follow that without leading in evidence, the prosecution can succeed on the allegation of money-laundering without pointing out...
Section 436A CrPC Setting Cap For Pre-Trial Custody Applicable To PMLA Offences, Says Supreme Court At Hearing
The Supreme Court on Wednesday orally observed that Cr. P. C. section 436A is an independent scheme under the Cr. P. C. dealing with specific situations, which has not been modified by the Prevention of Money Laundering Act, and therefore section 436A will also apply under the PMLA regime by virtue of section 65 of the PMLA.The Court told Solicitor General of India Tushar Mehta that though...
PMLA Interpretation - 2018 Amendment Has Revived The Twin Conditions For Bail Which Were Struck Down : Solicitor General Tells Supreme Court
The Supreme Court on Tuesday resumed hearing the string of petitions challenging the constitutionality of several provisions of the PMLA Act.When Solicitor General Tushar Mehta, on Tuesday, sought to address the bench on the validity of section 45 of the PMLA, Justice A. M. Khanwilkar indicated that the first question is whether the provision, which was struck down by the Supreme Court in...
Applying Section 41A CrPC Will Defeat PMLA's Objective : Solicitor General Tells Supreme Court
The Solicitor General of India Tushar Mehta continued his arguments in the Supreme Court on Thursday defending the provisions of the Prevention of Money Laundering Act.The top law officer of the Union emphasised that the PMLA was a "complete code" in itself and the provisions of the Code of Criminal Procedure, such as the notice under Section 41A CrPC, or the FIR procedure under Section 154,...
PMLA Offences Non-Cognizable In The Sense Local Police Can't Arrest, Says Supreme Court During Hearing
The Supreme Court on Wednesday remarked that the PMLA Act offences are not cognisable only to the extent of the scheme of the Cr. P. C.- that they are cognisable in the sense that arrests can be effected without a warrant by authorities specified in the Act, but they are non-cognisable qua the local police so that arrests cannot be made under the Cr. P. C.The Court was hearing SG Tushar...
BREAKING| Maharashtra Minister Nawab Malik Approaches Bombay High Court To Declare ED Arrest Illegal; Terms It 'Political Vendetta'
Nationalist Congress Party (NCP) leader and Maharashtra Cabinet Minister Nawab Malik has approached the Bombay High Court to quash the money laundering ECIR (FIR) registered against him as also the Special court's order remanding him in the Enforcement Directorate's custody till March 3, 2021. The State Minority Development Minister alleged "illegal arrest," for being a "vocal critique of...
Acquittal In Predicate Offence Won't By Itself End PMLA Proceedings : Solicitor General Tells Supreme Court
Responding to a batch of petitions challenging the procedures under the Prevention of Money Laundering Act, Solicitor General of India Tushar Mehta on Thursday told the Supreme Court that "the impression which is created that at the drop of the hat, searches are conducted and attachments are made under the PMLA" is not correct."In the last 17 years, investigation was carried out in 4700...
Only 313 Arrests Under PMLA In 20 Years; Strict Safeguards Are There : Solicitor General Tells Supreme Court
Solicitor General of India Tushar Mehta on Wednesday urged that in view of the international conventions for tackling money laundering to which India is party, the consequent 'peer reviews' and the implications of non-compliance, the Supreme Court perhaps may not want to apply while deciding the validity of the PMLA the traditional standards which it employs in analysing the constitutionality...
PMLA| May Not Be Possible To Say That "Mere Use" Of Proceeds Of Crime Is Not Money Laundering: Supreme Court Indicates
The Supreme Court on Tuesday indicated that it may not be possible to say that "mere use" of proceeds of crime is not money laundering.Advocate Abhimanyu Bhandari, for one of the petitioners, had sought to differentiate between projecting of proceeds of crime as untainted money and "merely using" of proceeds of crime- "Section 3 of the PMLA Act should be read down to say that mere use...
Low Conviction Rates In ED Cases Not A Ground To Decide Validity Of PMLA Provisions, Says Supreme Court During Hearing
The Supreme Court on Thursday remarked that the constitutional validity of the provisions of the PMLA Act cannot be judged on the basis of the performance of the Executive or the police or the inability to take the prosecution to its logical end or the low rate of conviction or the low rate of appeals against acquittal.On Wednesday, Senior Advocate Maneka Guruswamy, for one of the...
PMLA | Offence Of Money Laundering Layered, Includes Stages Preceding & Succeeding The Offence But Mere Suspicion Not Prima Facie Proof: Delhi HC
The Delhi High Court on Thursday held that the offence of money laundering under the Prevention of Money Laundering Act, 2002 is layered and multi-fold which includes the stages preceding and succeeding the offence.Justice Chandra Dhari Singh added that the PMLA is a special enactment to combat the menace of money laundering, keeping in view the illegal practices that have been surfacing...
Only 9 Convictions In PMLA Cases Out Of 1700 Raids By ED Since 2011 : Menaka Guruswamy To Supreme Court
Senior Advocate Menaka Guruswamy, for one of the petitioners challenging the various provisions of the Prevention of Money Laundering Act, told the Supreme Court on Wednesday that of the 1700 raids conducted and 1569 specific investigations by the Enforcement Directorate(ED)- with rates increasing by 20% every year and then doubling and tripling- since 2011, only 9 convictions have...