Rs 18,000 cr returned to banks from Mallya, Nirav & Choksi: Centre to SC
Darpan News Desk IANS, 23 Feb, 2022 12:50 PM
New Delhi, Feb 23 (IANS) Solicitor General Tushar Mehta on Wednesday informed the Supreme Court that Rs 18,000 crore have been returned to the banks in the case of Vijay Mallya, Nirav Modi, and Mehul Choksi.
Mehta, representing the Centre, submitted before a bench headed by Justice A.M. Khanwilkar that the total proceeds of crimes in the Prevention of Money Laundering Act (PMLA) cases pending before the top court amounts to Rs 67,000 crore.
He further added that as on date 4,700 cases are being investigated by the Directorate of Enforcement and the number of the cases taken up for investigation each year in the last 5 years varies from 111 cases in 2015-16 to 981 in 2020-21. Mehta submitted before the bench that Rs 18,000 crore have been returned to the banks in the case of Vijay Mallya, Nirav Modi and Mehul Choksi.
The top court is hearing a clutch of petitions, challenging the wide scope of powers available to the directorate of enforcement (ED) for search, seizure, investigation, and attachment of proceeds of crime under the law.
Mehta submitted before the bench, also comprising Justices Dinesh Maheshwari and C.T. Ravikumar, that during the last five years (2016-17 to 2020-21), only 2,086 cases were taken up for investigation under the PMLA out of registration of FIR of approximately 33 lakh for predicate offences by the police and other enforcement agencies.
He added, "very small number of cases are being taken up for investigation under the PMLA as compared to annual registration of the cases under the Money Laundering Act in the UK (7,900), the US (1,532), China (4,691), Austria (1,036), Hongkong (1,823), Belgium (1,862) and Russia (2,764)".
Mehta emphasized that the measures against money-laundering have clearly left embryo of drug or terrorism related offences and moved beyond the same. "Further, the efforts against money laundering have consistently advocated to include the widest range of predicate offences in the domestic laws," he added.
Over the past few weeks, a battery of senior advocates, including Kapil Sibal, Abhishek Manu Singhvi, Mukul Rohatgi, Sidharth Luthra, Amit Desai, and others have made submissions before the top court on various aspects related to potential misuse of PMLA provisions introduced by way of amendments to the Act.
The law has been criticised on various aspects: stringent bail conditions, non-communication of grounds of arrest, arrest of persons without supply of ECIR (akin to FIR), broad definitions of money laundering and proceeds of crime, and statements given by accused during investigation made admissible as evidence during trial.
India on Tuesday recorded 1,68,063 new Covid cases, taking the total tally to 8,21,446. Although the fresh infections were 6.4 per cent less than Monday when the country logged 1,79,723, the weekly positivity rate has climbed to 8.85 per cent and the daily positivity rate has declined to 10.64 per cent. On the other hand, 4,461 Omicron cases were recorded from 28 states.
Delhi reported a 25 per cent surge in Covid-19 cases after recording 19,166 fresh cases. With this, the infection tally has climbed to 15,68,896. Meanwhile, the city has recorded 17 Covid deaths on the second consecutive day, pushing the death toll to 25,177.
On Monday, after a detailed hearing in the matter, a bench, headed by Chief Justice N.V. Ramana and comprising Justices Surya Kant and Hima Kohli, said the court will set up a committee headed by a retired top court judge to probe the PM's security breach and asked both the Centre and Punjab government to not move ahead with their respective inquiries into the matter.
Several Supreme Court advocates on Monday claimed to have received an international call with a recorded message asking the apex court not to help the Central government by taking up a case connected with Prime Minister Narendra Modi's security breach in Punjab last week.
The Aam Aadmi Party (AAP) and the Congress are projected to poll 40 per cent and 36 per cent votes in Punjab, respectively, as per the ABP-CVOTER Battle for the States survey. The 117-member Punjab Assembly will go to the polls on February 14, and the counting of votes will be taken up on March 10.
The highest quantity has been procured from Punjab (1,86,85,53 MT) followed by Chhattisgarh (67,65,986 MT) and Telangana (65,54,739 MT) while the highest number of farmers benefitted in are Chhattisgarh (16,90,459), Telangana (9,67,134) and Punjab (9,24,299).
