Money Laundering Act: All rights of ED including arrest, raid, summons are right, Supreme Court’s big decision

The Prevention of Money Laundering Act has received a significant ruling from the Supreme Court (PMLA). The court has dismissed the petitions contesting key aspects of the PMLA Act, which is a blow for the individuals caught up in the case filed by the Enforcement Directorate. The court has ruled that the 2018 legal changes are accurate. In doing so, the Supreme Court has upheld all of the Enforcement Directorate’s authority (ED).

All of the ED’s powers under the PMLA Act, including those of arrest, search, summons, and statement, have been upheld by the Supreme Court. The Enforcement Case Information Report (ECIR), according to the Court, cannot be combined with the FIR. Giving the accused a copy of the ECIR is not required. It suffices to state the circumstances surrounding the arrest. The statement made to the ED is evidence, according to the court.

In reality, more than 100 petitions contesting the validity of various PMLA sections were submitted to the Supreme Court. In this, the powers of the ED, the right to arrest, the manner of summoning witnesses, and the confiscation of property and bail process were challenged. Congress politician Karti Chidambaram, NCP leader Anil Deshmukh, and others filed the petitions.

The agency should be bound to follow the CrPC
The petitions had argued that the powers of arrest, bail, and confiscation of property under the PMLA Act were outside the purview of the CrPC. Many provisions of this law are unconstitutional, as the process of investigation and trial of a cognizable offense is not followed. The petitions demanded that while conducting the investigation, the investigating agency be required to adhere to the CrPC. Several lawyers, including senior advocates Kapil Sibal and Abhishek Manu Singhvi, presented their side in this case.

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In 17 years, only 23 have been convicted,
In answer to a query in the Lok Sabha, the Central Government stated that the PMLA Act was enacted 17 years ago. 5,422 cases have been registered under this law since that time. At the same time, only 23 people have been convicted. The ED has attached assets worth more than one lakh crore till March 31 and has filed charge sheets in 992 cases.

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