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The Hindu
The Hindu
National
Legal Correspondent

Money laundering is a global problem, Centre tells Supreme Court

ED PMLA Tushar Mehta India

The government on Wednesday informed the Supreme Court that ₹18,000 crore was confiscated under the Prevention of Money Laundering Act (PMLA) from fugitive businessmen Vijay Mallya, Nirav Modi and Mehul Choksi, and returned to banks.

Appearing before a Bench led by Justice A.M. Khanwilkar, Solicitor General Tushar Mehta submitted that money laundering is a "global problem".

The government said the total proceeds of crime in PMLA cases pending before the top court is ₹67,000 crore.

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