PMLA verdict: SC to review 2 key points; issues notice to Centre

The Supreme Court has agreed to examine a plea seeking a review of the PMLA verdict which upheld the Enforcement Directorate’s (ED) powers, including those relating to arrest, and sought a response from the Centre on the issue.

Prima facie two issues, including not providing Enforcement Case Information Report (ECIR), require reconsideration, a bench headed by Chief Justice NV Ramana said on Thursday (August 25).

Also read: Supreme Court judgment misses an opportunity to refine PMLA

The top court on Wednesday had allowed an application of Congress MP Karti Chidambaram seeking an open court hearing of his petition to review the top court’s last month’s verdict upholding the sweeping powers of the ED relating to arrest, investigation, and attachment of property under the PMLA Act.

Also read: PMLA cases probed by ED have increased over 500% in 3 years: Govt data

In its July 27 verdict, the apex court has said that the direction under Section 8(4) for taking possession of the property in question before a formal order of confiscation is passed should be an exception and not a rule.

Also read: SC upholds ED’s power to search, seize, arrest, attach properties under PMLA

Section 8(4) allows the ED to take possession of the attached property at the stage of confirmation of provisional attachment made by the adjudicating authority.

(With Agency inputs)