New Delhi: The Supreme Court on Thursday agreed to hear a plea seeking a review of its verdict that upheld the Enforcement Directorate's (ED) powers under the Prevention of Money Laundering Act (PMLA) and said two aspects — not providing an Enforcement Case Information Report (ECIR) and reversal of the presumption of innocence — "prima facie" requires reconsideration.
The apex court issued notice to the Centre on the plea seeking re-examination of its verdict which upheld the ED's powers relating to arrest, attachment of property involved in money laundering, search, and seizure under the PMLA.
A bench headed by Chief Justice N V Ramana was hearing a plea filed by Congress MP Karti Chidambaram seeking a review of the July 27 judgment delivered by the apex court. The bench, also comprising Justices Dinesh Maheshwari and C T Ravikumar, said the court is completely in support of the prevention of black money and money laundering and the country cannot afford such types of offences. "There is no need for elaborate arguments. We three feel that only two aspects which may be necessary to be re-looked into the judgment," the bench said.
Referring to the two aspects relating to not providing ECIR and reversal of the presumption of innocence, the bench said after reading the judgment, "prima facie" it feels that these are the two issues that require reconsideration.
The bench said that object of the Act is noble and the offence of money laundering is serious.
Senior advocate Kapil Sibal said he has a lot of submissions to make in the matter.
"We are feeling these are the two issues which can be re-looked," the bench observed, adding: "We will issue notice."
Solicitor General Tushar Mehta, appearing for the Centre, said this is not a standalone provision for India and the country is part of a large global structure.
"We are part of a larger global structure and our law will have to be in tune with that larger global structure and that we have explained and the bench had very kindly examined that our law is in tune with not only that structure but our Constitution as well," he said.
"Any deviation would risk India as a nation to be sent back to the other list where we will not be able to get certain financial assistance," Mehta argued, adding there may be global repercussions as well.
The bench told Mehta that the court is not opposing the actions of the government to stop money laundering or bring back the black money or control its circulation as these offences are very serious.
Mehta said the notice should be limited to these two issues which the court has highlighted.