While announcing its decision to reconsider the judgement on PMLA, the top court said it completely supports prevention of black money and that the country cannot afford such offences. 
While announcing its decision to reconsider the judgement on PMLA, the top court said it completely supports prevention of black money and that the country cannot afford such offences. The Supreme Court has agreed to reconsider its judgement on the Prevention of Money Laundering Act (PMLA), 2002. The top court said issues like not providing the Enforcement Case Information Report (ECIR) to the accused and reversal of presumption of innocence need to be revisited.
While announcing its decision to reconsider the judgement on PMLA, the top court said it completely supports prevention of black money and that the country cannot afford such offences.
The top court had recently upheld validity of several provisions of the PMLA including powers of investigation by the ED and stringent bail provisions. The court added conditions for bail under the Act are legal and not arbitrary.
Supreme Court also said that the Enforcement Directorate is not 'police' within the definition of CrPC. It also mentioned that money laundering is a standalone offence under the PMLA.
(With inputs from Nalini Sharma)
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today
