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 minister and his son are accused in the October 3 incident in which nine persons, including four farmers, were mowed down by SUVs. The minister's son Ashish Mishra has already been arrested.
It's likely that Sidhu will put forth the list of demands in the Punjab government as he is upset with the appointments in the government. He has resigned from the post of state president, but it has not been accepted yet by Sonia Gandhi. The meeting gains significance as it comes ahead of the CWC meeting.
The civil secretariat houses the top offices of the government, including those of the Lt. Governor Manoj Sinha and his advisors. Police tried to intervene to restrain the mourners from carrying out the sit-in outside the civil secretariat.
"My son will go to the police tomorrow and assist the probe. He has not escaped anywhere," Mishra said on his arrival in Lucknow. He said that his son was very much in their house in Lakhimpur.
Punjab Congress President Navjot Singh Sidhu on Friday proceeded on indefinite fast in support of his demand for action against Ashish Mishra, the son of Union Minister Ajay Mishra and main accused in Sunday's violence in which nine persons, including four farmers, were killed.
Following a tipoff, the DRI sleuths swooped on the port on October 4 and detected the huge narcotics contraband, valued at Rs 125 crore, among boxes of a cooking oil container arriving from Iran and are now probing the possibility of a bigger drug smuggling racket with international ramifications for India and other countries.
