New Delhi: The Supreme Court in a major judgement upheld the provisions of the Prevention of Money Laundering Act on Wednesday.
The verdict was given in connection with the provisions of the law related to the bail conditions, seizures, and power to arrest. A three-division bench including Justices A.M.Khanwilkar, C.T.Ravi Kumar, and Dinesh Maheshwari upheld the validity of various provisions under the Prevention of Money Laundering Act (PMLA).
The apex court observed that the Enforcement Case Information Report (ECIR) cannot be equated with FIR. The court further added that ECIR is an internal document of the Enforcement Directorate.
The court further added that Supply of ECIR to the accused is not mandatory and only disclosure of reasons during arrest is enough.
The decision will have a larger impact on several political leaders who are under the scrutiny of the law and are going through interrogations in cases related to money laundering. The petitioner in the case alleged that the law is violative in nature as it breaches the constitutional rights of liberty and right against self-incrimination.