TWIN CONDITIONS UNDER PMLA: A HINDRANCE TO THE RIGHTS OF THE ACCUSED

AUTHOR – RIJUL SETH, STUDENT AT O.P. JINDAL GLOBAL UNIVERSITY

BEST CITATION – RIJUL SETH, TWIN CONDITIONS UNDER PMLA: A HINDRANCE TO THE RIGHTS OF THE ACCUSED, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 529-531, APIS – 3920 – 0001 & ISSN – 2583-2344.

I. Introduction

Money laundering has become a global issue in recent years, governments around the world have turned their attention to the offence of money laundering as, this offence in many cases leads to an increase in other kinds of offences as well, such as terrorism, tax evasion etc. the people of India as well as the economy have been suffering due to money laundering. Every year large amounts of money laundered not just across domestic border but also international borders, severely affecting the economy and has also boosted the funding and presence of terrorist organisations. It is in this light that the Government of India enacted the Prevention of Money Laundering Act, 2002 (PMLA). There is no denying that there is a dire need for a stringent statute such as the PMLA to tackle the issue of money laundering. However, in this paper we will argue that the PMLA is not free of infirmities and loopholes that in many instances has led to incarceration of the innocent and has on many occasions put to question the efficacy of the statute itself. In this paper we will critically examine the twin conditions of bail enshrined under Section 45 of the PMLA and prove that the same has led to curtailment of rights of accused individuals