The Supreme Court on Thursday said that prima facie two issues relating to the provisions of the Prevention of Money Laundering Act need to be reconsidered.
The two issues which the Supreme Court prima facie finds to reconsider is judgement upholding various provisions of the Prevention of Money Laundering Act including non-providing of Enforcement Case Investigation Report and reversal of presumption of innocence. During the hearing, the apex court also noted that there are some issues that needed a re-look but it said that the bench is completely in support of the prevention of black money or money laundering.
Solicitor General Tushar Mehta said,” This is not a standalone provision for our country, but the countries are part of a larger global structure. He also said that it will have global repercussions.”
The court also said that the offence of money laundering is serious and the country cannot afford such offences. The court said that matter will be listed after four weeks.