LS back in business, approves changes in money laundering bill
He said the appeal against the decision of the Tribunal would be entertained by the High Court and not directly by the Supreme Court.
The Minister explained that offences under the Customs Act would also be covered by the Money Laundering law.
He said this in response to a question whether over-invoicing or under-invoicing would be a punishable offence under the Money Laundering Act.
The Bill also provides for attachment and confiscation of the proceeds of crime even if there is no conviction so long as it is proved that offence of money laundering has taken place and property in question is involved in money-laundering.
Earlier, initiating the debate, Nishikant Dubey (BJP) sought to attack the Congress and the government on the issue of blackmoney stashed away in Swiss bank accounts.
He claimed that despite the name of a sitting MP from the treasury benches in the list of Indians allegedly having Swiss bank accounts coming out, the government has not made a statement and asked Chidambaram to clarify.
Sanjay Nirupam (Cong) sought to turn the tables on the BJP by demanding that corruption be added in the bill.
In an oblique reference to a top BJP leader, he said a minister may favour a contractor using his position and later himself open a company which may get funds from the same contractor as a return favour.
Those who participated in the discussion included B Mahtab (BJD), Saugata Roy (TMC), Saidul Haque (CPI-M), M Thambidurai (AIADMK) and Raghuva.
Be the first to comment.