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“PMLA in consonance with the global standards set by FATF”: Solicitor General, Tushar Mehta

Supreme Court of India

Last Updated on September 9, 2023 by Administrator

Issue:

The bench comprising Justices Krishna Murari and V Subrahmanium was hearing the appeals which were made against a Madras HC’S order that directed a fresh inquiry into the cash-for-jobs scam.

Facts:

The Tamil Nadu minister V. Senthil Balaji had been accused, along with others, of accepting bribes from the aspirants in lieu of appointments in the transport corporation. Between 2011 and 2015.

Arguments:

It was remarked by the solicitor General of India, Tushar Mehta, that the provisions of the Prevention of the money laundering act are in conformity with the global standards set up by the Financial Action Task Force, that is, the FATF and part of the intergovernmental response to the organized crime as India must fulfil its various commitments under the various conventions and the membership in the FATF. Senior Advocate Siddharth Luthra said that the Enforcement Directorate’s modus operandi and its work are equivalent to the ‘cowboys’ in the ‘wild west’ rather than being an agency of the statutory principles.

Further, it was added by the Solicitor General how important PMLA has become in part of the global response to transnational organized crimes and other insidious activities. The solicitor general also entertained the contentions regarding the issue of the jurisdiction of the enforcement directorate.

On the other hand, it was submitted by Advocate Sundaram that the issue of jurisdiction becomes necessary for the directorate to begin the investigation of the commission of an offence. Sundaram had submitted that there must be the existence of the identified property or the ill-gotten gains in the hands of the accused must become the sine qua non in the offences of money laundering.

Case Title: – Y. Balaji v. Karthik Desari & Anr. | Special Leave Petition (Criminal) No. 12779-12781 of 2022 and other connected matters

Written By: – Shianjany Pradhan

Written By

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