PMLA Judgment Review Hearing : Live Updates From Supreme Court

Sibal : Main section says 'and' and explanation says 'or'. You can't read 'and' in main section as or.

Sibal : Then Section 3. If I have dirty money, and make it clean, it is money laundering. Section says money laundering is an offence when I project as untainted money. Court says there is no such distinction.

Sibal : Third point is there is no ECIR. I don't know what the allegation against me is. How do I get bail?

Justice Khanna : The justification in the judgment is that the same is for Customs Act, Excise Act, Income Tax Act.

Sibal : But they are not penal statutes.

Sibal : When I am summoned under PMLA, I don't know in what capacity I am being summoned- whether as accused or witness. Under general law, I can be summoned as witness under S.160 or as accused under Sec. 41A. Here I don't know in what capacity I am being summoned.

Justice Khanna : Mr.Sibal, what I could gather from the judgment is with reference to Article 20 this issue had come, on whether statements are admissible. Your contention is that this distinction must not be drawn. We have understood.

Sibal : Broad 5 issues. I am placing them. The court says PMLA is not a penal statute. That is my first problem. I can be convicted for money laundering and sentenced. And it's not a penal statute? Court says it is a regulatory statute.

SG continues (audio not clear).

Sibal : Then my learned friend can keep on arguing till 4.

Justice Khanna : Mr.Sibal, address us.

SG interrupts.

Justice Kaul : Mr Solicitor, in court one party only cannot address. We have heard your objection. We have taken note. You got many many minutes Mr.Solicitor

Justice Trivedi : Which matter we are hearing. There are so many applications.

Justice Khanna : Mr.Sibal, we have to proceed in a systematic manner. There is an objection raised. Just because there is a tentative view, we are open to change. You can point out exact 5 or 6 issue.