Justice AM Khanwilkar of Supreme Court today said in open court that the judgment on the plea challenging the provisions of the provisions of the Prevention of Money Laundering Act (PMLA), is "almost ready". .The judge informed the same while hearing another case relating to Companies Act, 2013."List this after PMLA Judgment is delivered. The judgement is almost ready," he said..The challenge to PMLA was heard by a bench which besides Justice Khanwilkar also comprised Justices Dinesh Maheshwari and CT Ravikumar. Various provisions of the law have been challenged before the Supreme Court including Sections 44(1)(d), 50 and 63. The petitioner have contended that Section 50 of the PMLA infringes upon the right to liberty of persons summoned under the Act and violates the right against self-incrimination.On Section 44(1)(d), it was contended that the provision irreversibly prejudices the accused in the trial adjudicating the predicate offence.Besides, the Enforcement Directorate (ED) does not have a manual for investigation and does not follow provisions of Code of Criminal Procedure (CrPC), it was stated by the petitioners during the hearings.The Central government defended the law on the ground that it is well within the Constitutional framework and the PMLA and the recent amendments to it were based on the recommendations of the global network, Financial Action Task Force (FATF)..Read more about petitioners' argument here. Read Central government's arguments here.
Justice AM Khanwilkar of Supreme Court today said in open court that the judgment on the plea challenging the provisions of the provisions of the Prevention of Money Laundering Act (PMLA), is "almost ready". .The judge informed the same while hearing another case relating to Companies Act, 2013."List this after PMLA Judgment is delivered. The judgement is almost ready," he said..The challenge to PMLA was heard by a bench which besides Justice Khanwilkar also comprised Justices Dinesh Maheshwari and CT Ravikumar. Various provisions of the law have been challenged before the Supreme Court including Sections 44(1)(d), 50 and 63. The petitioner have contended that Section 50 of the PMLA infringes upon the right to liberty of persons summoned under the Act and violates the right against self-incrimination.On Section 44(1)(d), it was contended that the provision irreversibly prejudices the accused in the trial adjudicating the predicate offence.Besides, the Enforcement Directorate (ED) does not have a manual for investigation and does not follow provisions of Code of Criminal Procedure (CrPC), it was stated by the petitioners during the hearings.The Central government defended the law on the ground that it is well within the Constitutional framework and the PMLA and the recent amendments to it were based on the recommendations of the global network, Financial Action Task Force (FATF)..Read more about petitioners' argument here. Read Central government's arguments here.