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.
Bharatiya Kisan Union leader Rakesh Tikait on Wednesday announced that they will continue the peaceful protest here and will not obstruct any official day to day activities. He said that farmers across the state will continue the agitation on the lines of ongoing protests at the Delhi borders.
The drug money is allegedly linked with the seizure of 17 kg heroin, which was recovered by the police in Amritsar (Rural) on August 26 after arresting Ranjit Singh, alias Sonu.
The demands included an FIR and strict action against SDM Ayush Sinha, who on August 28 instructed the police to beat the protesting farmers. A video-clip of Sinha ordering the force to smash the farmers' heads had stirred a row after it went viral on social media.
Amid farmers protest in Karnal, former Haryana Chief Minister Bhupinder Singh Hooda said on Wednesday that the government should avoid confrontation with the farmers and find amicable solution. He said confrontation is not good as farmers have every right to protest peacefully for their demands.
This agreement would set an institutional mechanism for partnership and cooperation between India and Portugal on sending and accepting Indian workers and a Joint Committee will be set up to follow up the implementation of the same.
These internal differences notwithstanding, the Taliban are reaching out to regional/global powers underlining their desire to build "good relations" with the neighbouring countries, especially China which has "always contributed" to the Afghan economy, as well as with Tajikistan, Turkmenistan, Iran, India and Uzbekistan.
