Supreme Court to hear plea challenging validity of amendments to PMLA as money bills from January 30

The seven judge bench of the Supreme Court scheduled to hear pleas challenging validity of amendments to PMLA (Prevention of Money Laundering Act), Aadhaar Act passed as money bill since 2015 from January 30, 2024. A Supreme Court notification stated that the bench will be presided over by Chief Justice of India D Y Chandrachud. 

Reports said that the original petition challenged the government role vis a vis running of tribunals. Following, a petition challenging the introduction of Aadhaar Act as money bill came to be listed before a five-judge bench which referred it to seven-judge bench. The matter concerns whether the government could use the money bill route to effect changes in PMLA and introduce the Aadhaar Act.

On January 30, the seven-judge bench is expected to pass directions on filing of written submissions, appointment of nodal counsels to compile digital copy of submissions and accompanying documents, and fix dates for arguments in the case. Reports stated that the bunch of 22 petitions on money bill chronologically stands at the fourth position in the list of six cases before the seven-judge bench. The money bill case arose in 2019.

The controversy before the apex court revolved around the interpretation and applicability of Article 110 of the Constitution, which defines a money bill. The provision notes that a money bill is a draft law that must deal only with matters specified in Article 110 (1)(a) to (g): taxation, borrowing by the government, and appropriation of money from the Consolidated Fund of India, among others. The provision further states that any other matter incidental to the subjects mentioned above, can also be classified as a money bill.

Reportedly, a money bill can be introduced only in the Lok Sabha and the Rajya Sabha cannot reject it. The petitioners have argued that many crucial legislation’s were classified as money bills to avoid unfavourable consequences in the Rajya Sabha where the government did not have majority. 

The post Supreme Court to hear plea challenging validity of amendments to PMLA as money bills from January 30 appeared first on India Legal.



from India Legal https://ift.tt/Wi9QTOu

Popular posts from this blog

What Is Solana: A Description, Use Cases, Prospects

Most traders focus on well-known cryptos only, like BTC or Ether. However, today, there are many other blockchain networks that are worth considering. And some of them, for example, Solana, even have ambitions to force current leaders out. Thus, we offer you to get acquainted with this coin without a delay. Solana (SOL) is one of the blockchain platforms created for performing transactions at a high speed and at a cheap price similar to other networks of this kind. Likewise, it can be utilized for trading, paying for diversified goods and services, performing smart contracts, creating NFTs, accessing decentralized financial opportunities, for example, loans, etc. Yet, when one asks the question “ What is Solana? ”, one usually wants to find out if it is worth buying, in the first place. Thus, we must note right away that this network outcompetes other popular platforms both in terms of speed and in terms of costs. To be more precise, it can process 13 deals per second, while Bitcoin ...
Read more

FX Options Trading: Best Online Brokers

Never used options on Forex? Looks like you missed lots of profitable deals. Be sure to learn more about this method and decide whether it suits you. Start by reading our short review for beginners. In the end, we will give you a list of companies that offer the best terms for such trades. Let us start with a short theory about this trading method. In practice, an option is a contract that allows a trader to buy or sell a certain currency at a chosen price and on a chosen date.  FX options trading  is based on forecasts. For example, if a potential buyer believes that the price of a certain currency will grow in the future, he can reserve the right to buy it at a lower price. For this opportunity, one must pay a commission (or a premium). Another crucial point is that executing such deals is optional. When the date agreed comes, one can decide whether it is worth buying or selling the currency chosen. Also Read: Interactive Brokers Fees: An Overview for Potential Users And...
Read more

Crypto Trading Bot: Should You Try It and Which One to Choose

Are you searching for an instrument that will help you trade crypto at minimum risk and time expense, but with maximum earnings? Then, try a trading robot. Find the basic information about this tool and the list of the most reliable and effective products offered by the market. So, such a robot is a program that executes trades involving crypto in an automated mode based on the market situation and parameters set by its user. It can make use of diversified algorithms, patterns, signals provided by other traders, etc. Here are the major benefits such software can offer:   Time economy. A day trader does not have to spend a whole day monitoring the market.   No human mistakes. Such a program operates in strict accordance with the parameters and algorithm set. By contrast with traders, it cannot make mistakes due to fatigue or external distractions.   Fast reaction. Compared to humans, it takes a bot less time to analyze the current situation on the mark...
Read more