Scrutiny of money laundering law is in national interest: Apex court

A scrutiny of the money laundering law is in national interest, the Supreme Court said on Wednesday as it set the ball rolling for the reconsideration of its July 2022 verdict that upheld contentious provisions of the Prevention of Money Laundering Act, 2002 (PMLA), brushing aside objections by the Centre.

- Abraham Thomas

A three-judge bench headed by justice Sanjay Kishan Kaul set the matter for hearing on November 22, indicating that if the petitions before it make out a case to reconsider its past verdict in the Vijay Madanlal Chaudhary case, it will not hesitate to refer the matter to a larger bench.

The July 27, 2022 order, also by a three-judge bench, upheld the Enforcement Directorate's powers relating to arrest, attachment of property involved in money laundering, and search and seizure under the PMLA.

More than 200 petitions were listed before the court challenging Sections 50 and 63 of the PMLA that deal with the power of the agency to summon witnesses and requiring them to give true information since providing false information attracts punishment under Section 63.