BJP welcomes ‘landmark’ SC judgement on money laundering Act

New Delhi: The BJP on Wednesday welcomed the Supreme Court verdict upholding various provisions of the Prevention of Money Laundering Act as a “landmark” judgement which, it said, should put an end to opposition leaders’ “propaganda” and political arguments against the law.

Soon after the verdict, BJP president J P Nadda said the law of the land must be respected.

“The Supreme Court has passed a judgment on the powers and jurisdiction of the Prevention of Money Laundering Act (PMLA) and the Enforcement Directorate. The Supreme Court has upheld the PMLA and has also validated the jurisdiction of the ED. We honour and respect our Supreme Court and also our Constitution and our law,” he told reporters.

The Supreme Court, in the significant verdict, upheld the Enforcement Directorate’s (ED) powers relating to arrest, attachment of property involved in money laundering, search and seizure under the PMLA that were challenged by multiple petitioners including politician Karti Chidambaram.

BJP spokespersons Gaurav Bhatia and Nalin Kohli, who are also Supreme Court lawyers, lauded the judgement and slammed opposition parties for their attack on its provisions.

Bhatia said it was a landmark judgement which has upheld the ED’s powers to arrest accused, search their premises and seize their assets that the probe agency believes have been acquired through proceeds of crime and money laundering.

This is a befitting reply to opposition leaders who were as part of a campaign casting aspersions on the probe agency and calling it names, he said, adding that they should now introspect as the apex court has affirmed the legal validity of the various PMLA provisions which were challenged.

Noting that the court’s judgement upholding the law has come while was hearing a clutch of over 200 petitions filed by individuals and other entities challenging various provisions of the PMLA, Kohli said the verdict should end the propaganda and political arguments against the law.

The law must be applied equally without fear or favour, he said.

“Opposition parties cannot build an argument against the Act, its usage and the ED only on the ground that they are being targeted. All the recent cases where opposition party leaders have been investigated revealed unexplained huge sums of money, even up to Rs 20 crore in some cases and also large holding of properties which has no link to their direct income,” he said.

The burden of proof is on the accused to explain as to how they they acquired so much of assets unjustified by their known source of income, he added.

Bhatia said, “This is a befitting reply to the parties in the opposition, especially the Congress, the Trinamool Congress and the AAP which have been casting aspersions on the functioning of the ED and calling it names. They should introspect because the law’s credibility has been reaffirmed by the the SC while on the other hand the credibility of the opposition is at its lowest.”

Action must happen against those who have either laundered money or are recipients of the proceeds of crimes, Kohli said.

BJP’s IT department head Amit Malviya said, “The stringent provisions in the PMLA, meant to strengthen the ED, were introduced by the UPA. P Chidambaram, as finance minister, had moved the amendments. Supreme Court has just upheld them. Congress and its apologists should celebrate that the Govt is with them on this issue.”