Supreme Court dismisses petition filed against Money Laundering Act, says ED has the right to summon and arrest

The Supreme Court has dismissed the petition filed against the PMLA (Prevention of Money Laundering Act) and has upheld the law. During the hearing, the Supreme Court said that the ED has the right to summon and arrest. In the petition filed against PMLA, it was said that its provisions are against the law. The PMLA case continues on the allegation of sending money here and there and it is used in a wrong way. It was also said in the petition that arbitrary powers have been given to the officers in this Act.

In favor of PMLA, it was said on behalf of the government that those who have filed a petition against this Act, they want to avoid action. This is the same law through which 18 thousand crore rupees of banks have been recovered so far from people like Vijay Mallya, Nirav Modi and Mehul Choksi.

The Supreme Court has upheld the ED's right to arrest under the PMLA and said that the process of arrest is not arbitrary. However, the court has referred the matter of changes made in the law through the Finance Bill to a bench of 7 judges.

The Supreme Court in its judgment has upheld the ED's right to investigate, arrest and attach property. The bench has also said that it is not necessary that ECIR (copy of complaint) should be given to the accused. It is enough that the accused should be told on what charges he was arrested.