ED confiscated Rs 18,000 crore from Vijay Mallya, Nirav Modi, Mehul Choksi: Centre tells SC
Feb 23, 2022
New Delhi [India], February 23 : The Government of India on Wednesday submitted before the Supreme Court that Enforcement Directorate has confiscated around Rs 18,000 crore from Vijay Mallya, Nirav Modi, and Mehul Choksi.
Solicitor General Tushar Mehta appearing for the Central government said that this Rs 18,00 crore has been confiscated orders of the courts following the due procedure in money laundering cases.
Following statements were made to a bench of Justices A M Khanwilkar, Justices Dinesh Maheshwari, and C T Ravikumar hearing a batch of petitions challenging certain provisions of the Prevention of Money Laundering Act (PMLA).
In the proceedings, SG apprised the Court about some of the people who have left the country duping crores.
Justifying the constitutional validity of the provisions of PMLA, SG Tushar Mehta cited figures of cases that are being probed by ED.
The Centre submitted that currently, ED is investigating 4,700 cases under the various provisions of PMLA.
The govt further said that the total proceeds of crime in the PMLA cases pending before the top court amounts to Rs 67,000 Crores.
He also submitted before the court that India is a part of a global coalition against money laundering and therefore laws have to be on par with global laws to deal with money laundering as it has a cascading effect.
