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.
According to Sidhu, the department has issued sanctions under five phases for purchasing the straw management machines with subsidies ranging from 50 to 80 per cent.
On Tuesday, the Delhi Police had said that they have busted a Pakistan-based terror module and arrested six persons, including two people -- Zeeshan and Javed -- who were trained in Pakistan.
According to the police, the accused, Raju Chaudhary, who was arrested from Jammu has revealed during the interrogation that Wazir was shot dead on September 3 and four more people were present at the time of the incident. A police official informed that former NC leader, Wazir, was also given sedatives before being killed.
Farmers said the UPPCL sent arbitrary electricity bills and if the farmers failed to pay, they are harassed unnecessarily. The farmers locked the door of the power discom office at Noida's sector 16 and continued their protest outside.
Two Pakistan-based men, including a Pakistani intelligence officer, have also been identified and booked in the case, in which one person was arrested earlier, DGP Dinkar Gupta disclosed on Wednesday.
Reacting to the Samyukt Kisan Morcha's criticism of the remarks he had made on Monday in this regard, he lamented that despite his government's unequivocal support to their cause, the farmers had misinterpreted his appeal and had, instead, tried to link it with the upcoming Assembly polls in the state.
