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.
The Uttar Pradesh government has given a six months' extension to the special investigation team (SIT) probing the anti-Sikh riots of 1984. The SIT had sought extension and the state government has given time to the SIT to complete the investigation and make arrests by May 2022.
This comes just days after the COP26 climate summit, where India pledged to cut emissions to net zero by 2070, reduce carbon emissions by one billion tonnes by 2030, and raise the share of renewables in the energy mix to 50 per cent, among others, before staging a last-minute climbdown opposing a commitment to "phase out" coal.
The Supreme Court on Wednesday appointed Justice Rakesh Kumar Jain, a former judge of Punjab and Haryana High Court, to monitor the Lakhimpur Kheri violence probe and to ensure fairness and independence in the investigation.
The Supreme Court on Tuesday junked petitions against the Punjab and Haryana High Court order, which upheld the appointment of Dinkar Gupta as Punjab Director General of Police.
Punjab has always stood against external intrusions and hence must be considered as a security case, not just as an economic case at the time of budgetary allocation, state Finance Minister Manpreet Singh Badal said here on Tuesday. Badal made the demand during a virtual discussion with Union Finance Minister Nirmala Sitharaman on stepping up investment, infrastructure and growth in the country.
After a lacklustre outing in the 2017 Assembly polls, Kejriwal's AAP has rejuvenated its efforts to make a political dent in Goa for the upcoming 2022 state Assembly polls.
