‘Dangerous verdict': Opposition issues joint statement against SC upholding PMLA

New Delhi, Aug 03: In a joint statement, Opposition parties have expressed disappointment with the Supreme Court's July 27 judgment upholding the constitutional validity of the stringent provisions of the Prevention of Money Laundering Act (PMLA).

"We place on record our deep apprehension on the long-term implications of the recent Supreme Court judgement upholding, in entirety, the amendments to the Prevention of Money Laundering Act, 2002, without examining whether some of these amendments could have been enacted by way of Finance Act," they said in the statement.

The parties said they hold and will always hold the Supreme Court in the highest respect. "Yet, we are compelled to point out that the judgment should have awaited the verdict of a larger Bench for examining the constitutionality of the Finance Act route to carry out amendments."

"These far-reaching amendments strengthened the hands of a government, indulging in political vendetta of the worst kind, by using these very amended laws relating to money laundering and investigation agencies, to target its political opponents in a mischievous and malicious manner," the opposition parties alleged.

"We are also very disappointed that the highest judicial authority, invited to give an independent verdict on the lack of checks and balances in the Act, has virtually reproduced arguments given by the executive in support of draconian amendments. We hope that the dangerous verdict will be short lived and constitutional provisions will prevail soon," the opposition leaders said in their joint statement.

Among the parties that have signed the joint statement are the Congress, the TMC, DMK, AAP, NCP, Shiv Sena, CPI-M, CPI, IUML, RSP, MDMK, RJD and RLD.

Congress' Jairam Ramesh shared the joint statement on Twitter, saying, "17 Opposition parties, including TMC & AAP, plus one independent Rajya Sabha MP, have signed a joint statement expressing deep apprehensions on long-term implications of the recent Supreme Court judgement upholding amendments to PMLA,2002 and called for its review."

The statement comes a day after raids were conducted by the Enforcement Directorate on the premises of the National Herald newspaper in the national capital and elsewhere. Congress chief Sonia Gandhi and Rahul Gandhi were already questioned by the agency in a money laundering case.

Last week, the Supreme Court while backing the Enforcement Directorate today rejected almost all objections raised against the probe agency regarding initiating an investigation, prior to arrest, search and seizure etc.

The court upheld almost all provisions of the Prevention of Money Laundering Act (PMLA) which was challenged in the court. The court also affirmed the stringent provisions of the Prevention of Money Laundering Act (PMLA) int relation to expansive definition of proceeds of crime, search and seizure, power of arrest, attachment of properties and twin bail conditions.

The court also held that the Parliament is competent to amend Section 45 in the present form to cure the defects pointed out in the judgment of the Supreme Court.