Thread by @LiveLawIndia

"Not necessary to 'launder' money in conventional sense. Enough to be in possession of proceeds of crime to attract the force of Prevention of Money Laundering Act," Solicitor-General Tushar Mehta tells #SupremeCourtofIndia.

#PMLA #ED

Where jurisdiction of ED has started, there cannot be a stay merely because it is a predicate offence. Only one condition imposed by SC - ED's investigation must stop if accused is acquitted in scheduled offence: Solicitor-General Tushar Mehta

#SupremeCourtofIndia #PMLA #ED

Even where person has been acquitted in predicate offence, not necessary that PMLA case will go away. If a person accused of taking a bribe has been discharged under PC Act, but we find proceeds of crime, what to do? Act provides for this. : SG

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All our provisions are in compliance with global norms by Financial Action Task Force (FATF). We are regularly assessed. Pakistan was recently removed from grey list. We have been performing well. : SG

#SupremeCourtofIndia #PMLA #ED

If someone takes a bribe, but money doesn't change hands, not that Prevention of Money Laundering Act won't be applicable. Any one activity mentioned in S3 will attract...No country can fight money laundering alone. It is a global fight. : SG

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