Supreme Court Adjourns Review Hearing on PMLA Provisions to October 3

The Supreme Court has postponed the hearing on a review petition challenging the provisions of the Prevention of Money Laundering Act (PMLA) to October 3. Solicitor General Tushar Mehta's request led to the adjournment, with the court expressing concern over delayed matters.

The Supreme Court deferred the hearing of a review petition challenging its judgement on the Prevention of Money Laundering Act (PMLA) to October 3. The postponement, announced Wednesday, came at the request of Solicitor General Tushar Mehta.

A bench led by Justice Surya Kant expressed frustration, noting that delayed hearings can become embarrassing. Previously, the court had identified two key issues for prima facie consideration, with Senior Advocate Kapil Sibal advocating for reconsideration of the judgement.

Solicitor General Mehta argued against revaluation, insisting that the PMLA conforms to directives by the Financial Action Task Force (FATF). The court underscored the seriousness of money laundering and had agreed to hold an open court hearing regarding the act's provisions, one of which was contested by MP Karti Chidambaram.

The Supreme Court had upheld provisions of the PMLA on July 27, 2022, empowering the Directorate of Enforcement with significant investigatory authority. It ruled that an Enforcement Case Information Report (ECIR) is not equivalent to a First Information Report (FIR).

High-profile petitioners, including Karti Chidambaram and former Jammu and Kashmir Chief Minister Mehbooba Mufti, challenged various PMLA provisions. They cited issues such as procedural transparency and the accused's awareness of ECIR contents. The Centre defended the act's constitutionality, noting that around 4,700 cases were under investigation.

The Centre emphasized that the PMLA aims to prevent and regulate money laundering comprehensively. It mandates the confiscation of unlawfully obtained property and seeks punishment for offenders through competent courts. India, as a global participant in anti-money laundering initiatives, is obligated to align with international standards.

(With inputs from agencies.)