Supreme Court to hear petitions challenging its order upholding PMLA provisions tomorrow
Supreme Court judgment delivered on 27 July 2022 examined the validity of the PMLA in its entirety. “In that matter, ultimately we will finalize the nitty-gritty on whether the earlier bench of three judges covered all provisions or something has to be addressed," a bench led by Justice Sanjay Kishan Kaul said in September while fixing the date for the hearing. Exciting news! Mint is now on WhatsApp Channels.
Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! The challenges to PMLA provisions under Section 50 (extract confessions) and Section 63 (punishment for false information) can be shifted to 20 November if the Supreme Court bench decides to take the review petitions. The Supreme Court order in the matter delivered on July 2022 came in response to petitions challenging extensive powers with the ED of search, seizure, summoning of potential accused, recording statements having evidentiary value during trial, and stringent conditions for bail under PMLA. The apex court delivered a 545-page judgment in the case, upholding the provisions including the controversial “twin conditions" for bail in PMLA cases.
The judgment was authored by Justice (now retired) A.M. Khanwilkar. “This is a sui generis legislation… The Parliament enacted the Act as a result of international commitment to sternly deal with the menace of money laundering of proceeds of crime having transnational consequences and on the financial systems of the countries," the judgment said as per the news platform The Hindu.
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