Today, the Prevention of Money Laundering Act (PMLA) will be the subject of a judgement from the Supreme Court on a number of arguments.
The Supreme Court is also scheduled to hear a number of crucial cases, including one where rules for potential mitigating factors should be established before a death sentence is imposed. In cases involving challenges to the IT Rules, 2021 or the Cable Television Networks (Amendment) Rules, 2021 and the Ancillary Rules, which are the subject of proceedings before it, the court had already suspended further proceedings before high courts.
‘Number of Judges Involed’ :
The ruling by the three-judge panel of AM Khanwilkar, Dinesh Maheshwari, and CT Ravi Kumar is expected to have an impact on a significant number of opposition figures, including Sonia and Rahul Gandhi of the Congress, who are being investigated by the primary investigative body.
The Supreme Court announced on July 15 that its decision on the arguments against the Prevention of Money Laundering Act’s (PMLA) provisions is “nearly ready”. The petitions are concerned with how the 2002 Prevention of Money Laundering Act should be interpreted.
A number of petitions challenging specific elements of the Prevention of Money Laundering Act were previously on hold pending the supreme court’s decision (PMLA). Among the petitioners are Mehbooba Mufti, the former Chief Minister of Jammu and Kashmir, and politician Karti Chidambaram.
The petitions raised a number of issues, one of which was the lack of a method to start the investigation and summoning, as well as the fact that the accused was not informed of the information in the Enforcement Case Information Report (ECIR). Ms. Mufti has contested Section 50’s constitutionality as well as any ancillary sections of the 2002 Prevention of Money Laundering Act.
According to Section 50 of the PMLA, any individual may be summoned to provide testimony or provide documents by the “authority,” which are officers of the Enforcement Directorate. All people who have been summoned are obligated to respond to inquiries and provide the papers requested by the ED officials; otherwise, they risk PMLA penalties.
Moreover, the centre have provided evidence supporting the constitutionality of the PMLA’s provisions. The centre has defended the PMLA changes by arguing that money laundering threatens not only financial systems but also national integrity and sovereignty because it is not only done by dishonest businesspeople like Vijay Mallya or Nirav Modi but also by terrorist Organisations.
242 appeals have been made in all over the matter. Farooq Abdullah, the former Chief Minister of Jammu and Kashmir, Sonia Gandhi, and Partha Chatterjee of the Trinamool Congress are three well-known individuals who are now being investigated by the ED.
image credit : getty images
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