INSUBCONTINENT EXCLUSIVE:
the 2022 judgment.The hearing on nearly 200 petitions through the day was interspersed with accusations and counter-claims as tempers ran
high, prompting a bench of Justices Sanjay Kishan Kaul, Sanjiv Khanna and Bela M Trivedi to intervene repeatedly to restore calm in the
It should not become a personal issue
Everybody should not be on the edge...
validity of Sections 50 (to issue summons) and Section 63 (punishment for false information or failure to give information) of Prevention of
Money Laundering Act and said that they had amended the petitions and challenged various other provisions of the Act which had already been
upheld by the court earlier
He urged the court not to permit the petitioners to expand the ambit of the hearing beyond the two sections
have checked all the petitions, there was no such challenge against provisions other than Section 50 and 63
Thereafter, an amendment to the petition was filed
It changes the entire structure
Kapil Sibal and A M Singhvi in equal force as they told the court that no new ground had been raised in the petition and all the points were
against the rule of law and violative of the fundamental rights of an accused as they can be summoned and arrested without knowing the
He said there is a distinction between inquiry and investigation but the apex court had held that there was no distinction
He said the verdict was wrong as it virtually allowed explanation to a provision to override the statute.Interjecting him, the SG said the
2022 judgment was delivered after debating and discussing each provision of PMLA over 25 days of hearing in which the same lawyers had
appeared and it is a misuse of the process of law to seek reconsideration of the judgment in a fresh petition.State govt vs Governors:
Supreme Court raises questions over delay in Bill approvalThe hearing will resume Thursday.A 3-judge bench of the apex court had on July 27
last year upheld the stringent regime prescribed for money laundering offences and vast powers enjoyed by ED, giving the agency the go-ahead
to arrest people and conduct search and seizure even when no complaint had been filed
The provisions also make statements made before the agency admissible in court while, also, puts the burden on the accused to prove their
The court had validated the twin bail conditions as per which an accused could be granted bail only if there are reasonable grounds for the
court to believe that he is not guilty and was unlikely to commit offence while on bail.In a voluminous 545-page verdict, the court had
ruled that the entire chain of actions involved in the process of concealment, possession, acquisition, use of proceeds of crime as much as
projecting it as untainted property or claiming it to be so would constitute an offence of money-laundering
It meant that a person, who bought a property unaware that it was a tainted one, would also come within the purview of PMLA.
