India News | Money Laundering is Premeditated Offence, Pose Serious Threat to Financial Health of Country: Centre Tells SC

New Delhi [India], March 9 (ANI): Centre on Wednesday told the Supreme Court that money laundering is a premeditated offence that needs to be viewed seriously because it poses a serious threat to the financial health of the country.

Solicitor General Tushar Mehta, appearing for the Centre, said that money laundering is a premeditated offence, which never takes place in the heat of the moment.

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He further added that economic offences having deep-rooted conspiracies and involving huge loss of public funds need to be viewed seriously as they pose a serious threat to the financial health of the country.

SG Mehta also pointed out money laundering offences usually take place across borders and mentioned the existence of certain tax-haven nations where the offender can easily keep their illicit money.

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His submission came before the bench of Justices A M Khanwilkar, Justices Dinesh Maheshwari and C T Ravikumar hearing a batch of petitions challenging certain provisions of the Prevention of Money Laundering Act (PMLA).

SG Mehta was justifying the constitutional validity of the provisions of the Prevention of Money Laundering Act (PMLA).

The matter will be continued to hear tomorrow (on Thursday). (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)