PMLA review petition: SC agrees to reconsider judgement

New Delhi, Aug 25: The Supreme Court on Thursday said that prima facie two issues relating to the provisions of the Prevention of Money Laundering Act need to be reconsidered.

A bench of Chief Justice of India NV Ramana, Justice Dinesh Maheshwari and CT Ravikumar issued notice to the Centre on the two issues.

The two issues which the Supreme Court prima facie finds to reconsider is judgement upholding various provisions of the Prevention of Money Laundering Act including non-providing of Enforcement Case Investigation Repor and reversal of presumption of innocence.

During the hearing, the apex court also noted that there are some issues that needed a re-look but it said that the bench is completely in support of the prevention of black money or money laundering.

"This is not a standalone provision for our country, but the countries are part of a larger global structure. He also said that it will have global repercussions," ANI quoted Solicitor General Tushar Mehta as saying.

The court also said that the offence of money laundering is serious and the country cannot afford such offences. The court said that matter will be listed after four weeks.

In its July 27 verdict, the apex court said that the direction under Section 8(4) for taking possession of the property in question before a formal order of confiscation is passed should be an exception and not a rule.

"In Vijay Madanlal Choudary & Ors v. Union of India, this court dealt with confiscation proceedings under Section 8 of the Prevention of Money Laundering Act, 2002 (PMLA) and limited the application of Section 8(4) of PMLA concerning interim possession by the authority before the conclusion of the final trial to exceptional cases.

"The court distinguished the earlier cases in view of the unique scheme under the impugned legislation therein. Having perused the said judgment, we are of the opinion that the aforesaid ratio requires further expounding in an appropriate case, without which, much scope is left for arbitrary application," the bench said.