PMLA Judgment Reconsideration : Live Updates From Supreme Court [Day 2]
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23 Nov 2023 10:31 AM IST
Live Updates
- 23 Nov 2023 2:56 PM IST
Singhvi: Your Lordships should never allow Section 120B...
Khanna J: It's punishable on its own unlike Section 34...
Singhvi: But it has to be linked. It's not a question of whether there's a punishment. The legislature, in its wisdom decided to exclude Income Tax act. Now they cannot introduce it through the backdoor by employing Section 120B.
- 23 Nov 2023 2:56 PM IST
Singhvi: Look at the words. Right of due process, the presumption of innocence, protection by courts...FATF did not prescribe Section 45, it did not change 'and' to 'or'.
SG Mehta: I'm not relying on FATF for Section 45.
Singhvi: I'm relying on FATF for the opposite purpose. I'm not trivialising it, but saying you ought to follow FATF guidelines.
- 23 Nov 2023 2:37 PM IST
Singhvi: You are catching me against my liberty in this way, it's completely wrong. I'm today arguing on Section 45.
Khanna J: What Mr Mehta said is perfectly applicable as far as Arms Act is concerned. You may only be tried for the arms recovered, under the Arms Act, but you can use the arms to extract money etc etc.
Singhvi: But, I'm on the anamoly of a bar. With great respect, there's no satisfactory answer.