CrackitToday App

Prevention Of Money Laundering Act (PMLA)

Prevention Of Money Laundering Act (PMLA):

The Supreme Court will hear in open court a review of its judgment upholding key provisions of the Prevention of Money Laundering Act (PMLA), 2002.

  • In Vijay Madanlal Choudhary & Ors v Union of India, a judgment delivered on July 27, the Supreme Court upheld the key provisions of the PMLA.
  • The SC accepted the government’s arguments on virtually every aspect that was challenged by the petitioners: from reversing the presumption of innocence while granting bail to passing the amendments as a Money Bill under the Finance Act to defining the contours of the powers of the Enforcement Directorate (ED).
  • A ruling by the Supreme Court is final and binding. However, Article 137 of the Constitution grants the SC the power to review its judgments or orders.
  • A review petition must be filed within 30 days of pronouncement of the judgment.

Leave a Reply

Your email address will not be published.

CrackitToday App