PICThe Centre has informed Supreme Court that 18 thousand crore have been returned to the banks in Vijay Mallya, Nirav Modi, and Mehul Choksi cases. Representing the Centre, Solicitor General Tushar Mehta submitted before the apex court that the total proceeds of crimes in the Prevention of Money Laundering Act (PMLA) cases pending before the top court amounts to 67,000 crore rupees. He further said that as of date 4,700 cases are being investigated by the Enforcement Directorate. Mr Mehta said the number of the cases taken up for investigation each year in the last 5 years varies from 111 cases in 2015-16 to 981 in 2020-21.
Supreme Court was hearing a bunch of petitions, challenging the wide scope of powers available to the ED for search, seizure, investigation, and attachment of proceeds of crime under the law.
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