SC to examine if ED can attach ancestral assets as 'proceeds of crime' in money laundering cases
The Hindu
The question came up for consideration before the top court on an appeal filed by the Enforcement Directorate challenging an order of the Karnataka High Court
The Supreme Court has agreed to examine the legal issue of whether the Enforcement Directorate can attach ancestral properties of the accused under the Prevention of Money Laundering Act (PMLA) as "proceeds of crime". The question came up for consideration before the top court on an appeal filed by the Enforcement Directorate (ED) challenging an order of the Karnataka High Court which observed that action under the Prevention of Money Laundering Act, 2002 cannot proceed in respect of the ancestral property.
The High Court had also quashed the proceedings against two accused in the case.
An apex court bench of Justices A.M. Khanwilkar and C.T. Ravikumar in its October 8 order issued notice to the accused on the appeal of the ED and sought their response within four weeks.