Justice Bhuyan Cautions Against The Misuse Of PMLA, Underscoring Its Importance In Fighting Financial Crimes At The Book Launch Of "Treatise On PMLA – Law And Practice" By Akhilesh S. Dubey.
LIVELAW NEWS NETWORK
22 March 2024 6:01 AM GMT
Justice Ujjal Bhuyan, while speaking at the launch of the book "Treatise on PMLA – Law and Practice" by advocate Mr. Akhilesh Dubey, highlighted the need for all the stakeholders to apply the PMLA in its true spirit having regard to the objective of the legislation and keeping in mind the overarching Constitutional mandate of Article 21 of the Constitution of India. He emphasised that...
Justice Ujjal Bhuyan, while speaking at the launch of the book "Treatise on PMLA – Law and Practice" by advocate Mr. Akhilesh Dubey, highlighted the need for all the stakeholders to apply the PMLA in its true spirit having regard to the objective of the legislation and keeping in mind the overarching Constitutional mandate of Article 21 of the Constitution of India. He emphasised that PMLA is a potent weapon in the fight against crime-tainted money, but the weapon loses its potency if it is overexposed, overapplied or misused.
The Book "Treatise on PMLA – Law and Practice" by advocate Mr. Akhilesh S. Dubey was launched on 17th March 2024 at NCPA, Nariman Point, Mumbai. The event was impressively organised in the presence of Chief Guest: Justice Ujjwal Bhuyan, Judge, Supreme Court of India; Guest of Honour: Justice Devendra Kumar Upadhyay, Chief Justice of the High Court of Bombay; Justice Makarand Subhash Karnik; Justice Madhav J. Jamdar; Justice Rajesh S. Patil, Judges, Bombay High Court and Dr Birendra Saraf, Advocate General of Maharashtra. The event was also attended by various senior advocates and lawyers from the Mumbai and Delhi.
Justice Bhuyan, delved into the nuances of the PMLA, 2002. Stressing upon the issues of bail under the PMLA, Justice Bhuyan quoted Justice Krishna Iyer that "The issue of bail is one of liberty, justice public safety, and burden of the public treasury, all of which insist that a developed jurisprudence of bail is integral do a socially sensitised judicial process". He added that the Supreme Court referred to Article 21 as the ark of the covenant for fundamental rights. He further added that though our constitution has no due process clause or the 8th amendment as in the US, but when it comes to the question of the right to life and personal liberty of the citizens of India, following the law laid down by the Supreme Court in Cooper's case and Maneka Gandhi's case, the consequence is one and the same.
Justice Bhuyan further observed that the Prevention of Money Laundering Act, 2002, is the most contemporary subject in recent times. Law on the subject is evolving, and therefore, there is a need for legal literature. He appreciated the efforts of Mr. Akhilesh Dubey by adding that the two-volume book is a labour of love for the author, who has taken great pains in researching various provisions of PMLA and the related case laws. Justice Bhuyan complimented the author for writing this book, which will be very useful not only to the bar but to the bench as well and also for officials of the Enforcement Directorate who have been given the task of implementing the provisions of PMLA.
Justice Devendra Kumar Upadhyay, Chief Justice of the High Court of Bombay observed that legislature introduced numerous changes in PMLA provisions relating to attachment, investigations, arrest, bail which were implemented by courts across India. He highlighted the need for the book due to the introduction of new concepts and changes to existing provisions necessitating legal professionals and others to update their knowledge and understanding of PMLA continually. He also appreciated the author's efforts by underlining the fact that there are very few sources and commentaries available regarding the provisions of PMLA. This book gathers all information related to case laws, rules, notifications and legal concepts in one place to aid legal professionals. He added that the book offers a thorough overview of PMLA and its amendments over time as well as a discussion of key cases and their impact on the interpretation and application of PMLA and emphasised that the book is an essential resource for legal professionals looking to deepen their understanding of PMLA.
Justice Madhav J. Jamdar also discussed the nuances of the PMLA in detail, which was very educational. Justice Makarand Subhash Karnik, Justice Rajesh S. Patil, Judges of Bombay High Court and Dr Birendra Saraf, Advocate General of Maharashtra, while speaking upon the necessity of the book on PMLA lauded the efforts of the author.
