Supreme Court Delays Hearing on Money Laundering Law Review
The Supreme Court of India has postponed the hearing on a review petition challenging the Prevention of Money Laundering Act (PMLA) until October 3. The delay was requested by Solicitor General Tushar Mehta. The court acknowledged the seriousness of money laundering and emphasized the need for a thorough review.
In an earlier hearing, the Supreme Court identified two issues that needed consideration. Senior Advocate Kapil Sibal, representing the petitioner, argued that the judgement needs reconsideration. The court assured that both sides would have ample opportunity to present their arguments.
Solicitor General Tushar Mehta opposed the revaluation of the judgement, stating that the PMLA is in line with the Financial Action Task Force (FATF) guidelines. The court had previously agreed to an open court hearing on the review petition against the judgement upholding various provisions of the PMLA.
One of the review pleas was filed by Congress MP Karti Chidambaram. On July 27, 2022, the Supreme Court upheld the validity of various provisions of the PMLA, empowering the Directorate of Enforcement to make arrests, conduct searches and seizures, and attach proceeds of crime. The court also ruled that the Enforcement Case Information Report (ECIR) is not equivalent to the First Information Report (FIR) and that ED officers are not police officers.
Prominent names like Karti Chidambaram and former Jammu and Kashmir Chief Minister Mehbooba Mufti were among the petitioners. Their petitions raised issues such as the lack of a procedure to commence an investigation and the accused not being made aware of the ECIR contents. The Centre defended the PMLA, stating that it is essential for preventing money laundering and aligns with global best practices.
Doubts Revealed
Supreme Court -: The Supreme Court is the highest court in India. It makes important decisions about laws and justice.
Money Laundering -: Money laundering is when people try to hide where their money came from, usually because it was earned illegally.
Review Petition -: A review petition is a request to look at a decision or law again to see if it needs to be changed.
Prevention of Money Laundering Act (PMLA) -: The PMLA is a law in India that helps to stop money laundering. It has rules to catch and punish people who try to hide illegal money.
Solicitor General -: The Solicitor General is a top lawyer who represents the government in court.
Tushar Mehta -: Tushar Mehta is the current Solicitor General of India. He helps the government with legal matters.
Congress MP Karti Chidambaram -: Karti Chidambaram is a Member of Parliament (MP) from the Congress party. He is one of the people asking for the PMLA to be reviewed.
Centre -: In this context, ‘Centre’ refers to the central government of India. It is defending the PMLA law.
Global Standards -: Global standards are rules or guidelines that many countries agree to follow. They help make sure everyone is doing things in a similar way.
