Supreme Court Reviews Landmark Money Laundering Verdict: A Legal Turnaround?

The Supreme Court of India has reconstituted a three-judge bench to review its 2022 decision upholding the Enforcement Directorate's (ED) powers under the Prevention of Money Laundering Act (PMLA). With hearings set for May, the court will reconsider aspects affecting fundamental legal presumptions.

The Supreme Court of India has taken a significant step by reorganizing a three-judge bench tasked with reconsidering its 2022 decision concerning the Enforcement Directorate's (ED) powers under the Prevention of Money Laundering Act (PMLA). The court seeks to address potential review points raised since the verdict.

Originally decided in July 2022, the verdict upheld the ED's powers related to arrest, attachment of property, and other measures under the PMLA. However, it has faced scrutiny for not requiring the provision of an Enforcement Case Information Report (ECIR) and for reversing the presumption of innocence.

The case, significantly impacting the financial regulatory landscape, is scheduled for a hearing on May 7. Legal experts and stakeholders are looking forward to the court's clarification on these pivotal issues that have broad implications for governance and law enforcement.

(With inputs from agencies.)