Why in News
A three-judge Bench indicated ,if required, refer any aspect of the Prevention of Money Laundering Act (PMLA), upheld by a Supreme Court judgment in July 2022, to a Constitution Bench.
PMLA Supreme Court judgment in July 2022
PMLA is a law that was enacted by the Indian Parliament in 2002 to prevent and punish money laundering.
The PMLA has been amended several times since it was enacted, and the most recent amendments were made in 2019.
In July 2022, the SC of India upheld the constitutional validity of the PMLA.
The Court held that the PMLA is a valid law that is not in violation of the fundamental rights guaranteed by the Constitution of India.
The Court's judgment has been criticized by some for upholding the PMLA's broad powers, such as the power to arrest and detain suspects without a warrant.
The Court has defended its judgment, arguing that the PMLA is a necessary tool for combating money laundering.
The impact of the Supreme Court's judgment is still being debated.
The judgment is likely to lead to an increase in the number of arrests and prosecutions under the PMLA.
It is also likely to lead to a more aggressive approach to the investigation of money laundering cases.
The Supreme Court's judgment is a significant development in the fight against money laundering.
The judgment is likely to have a major impact on the way that money laundering is investigated and prosecuted in India.
COMMENTS