Thread by @P39A_nlud

Subject to reading the full judgment, here's a quick explainer of the SC's pronouncement:

1. To constitute money laundering, mere possession or use of proceeds of crime w/o projecting it as untainted is an offence.
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2. The inclusion of a wide list of predicate offences under PMLA, covering variety of crimes, from IPC to Copyright violations, is prerogative of the legislature.

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3. Investigation into money laundering can begin even in the absence of an FIR/investigation into predicate offence. But if predicate offence proceedings result in discharge or acquittal, then money laundering proceedings must also fall

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4. ED officers are not police officers; CrPC procedures for seizure, arrest, summons, judicial oversight, and registration of complaint are not applicable to ED proceedings. PMLA contains sufficient safeguards wrt arrest and attachment.

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5. ECIR filed by ED is its internal document, and not akin to an FIR. Thus, the accused is not entitled to a copy of the ECIR upon arrest or other stage. Accused is merely entitled to grounds/reasons of arrest.

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6. ED can record signed statements and direct production of documents, at the risk of a penalty. This does not amount to compulsion or violation of right against self-incrimination, as it is an enquiry not an investigation.

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7. Twin bail conditions (hearing the prosecution & requiring the accused to prove innocence) are reasonable and necessary for purposes of the Act. 2017 judgment in Nikesh Tarachand re: unconstitutionality of bail conditions now overruled #PMLA #PMLAExplained

8. PMLA reverses the burden of proof: the Ct is entitled to presume that proceeds of crime connected to an accused are involved in money laundering. Challenge that reversal is without establishment of foundational fact, is rejected.
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