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.
In an apparent embarrassment for the ruling Congress in Punjab, its legislator Joginder Pal and his security men allegedly assaulted a youth who questioned him about the work done in the constituency in nearly five years. A video of the incident has gone viral on social media.
The fresh travel advisory says that fully-vaccinated travellers coming from a country with which India has arrangements for mutual acceptance of WHO approved Covid-19 vaccines shall be allowed to leave the airport after producing a negative RT-PCR test report, and will not have to undergo home quarantine and testing.
Four more persons, including a BJP leader who was seen inside the SUV that mowed down protesting farmers in Lakhimpur Kheri on October 3, have been arrested.
Referring to the killing on October 15 of a Dalit labourer from Tarn Taran in Punjab, and latest disclosures in the media, the Deputy Chief Minister, who also holds the Home portfolio, promised complete justice, saying the government will reach to the bottom of the case and expose the conspirators behind the incident.
The activists entered the AIIMS premises raising slogans for immediate action against the students who performed the Ramlila skit. They tried to break into the AIIMS hostel, but were stopped by the police who took them outside the AIIMS premises.
Two gold bars, of 3 kg each, of 24 carat purity, and worth Rs 2.96 crore, were concealed in two rechargeable lights. The officials, who searched the baggage of a passenger arriving from Dubai by flight EK 524, found the two emergency lights. On suspicion, they opened the lights and found the bars kept inside the rechargeable batteries.
