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PMLA: After SC order, seized assets worth Rs 1L cr to remain with ED

The Supreme Court's order on Wednesday upholding ED's power to seize and attach properties under PMLA has ensured that assets worth over Rs 1 lakh crore, allegedly linked to cases being investigated by the anti-money laundering agency, will remain under its custody. An unfavourable verdict would have resulted in the release of the assets in question, and the ED would have been stripped of the power to carry out similar seizures as "proceeds of crime".

The Supreme Court's order on Wednesday upholding ED's power to seize and attach properties under PMLA has ensured that assets worth over Rs 1 lakh crore, allegedly linked to cases being investigated by the anti-money laundering agency, will remain under its custody. An unfavourable verdict would have resulted in the release of the assets in question, and the ED would have been stripped of the power to carry out similar seizures as "proceeds of crime". from Times of India https://ift.tt/QyI1KUP
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