Courts must take a 'strict approach' in economic offences, says SC

New Delhi: The Supreme Court Monday dismissed a plea filed by retired IAS officer Pradeep Nirankarnath Sharma seeking discharge in a 2023 illegal land allotment scandal. Sharma stands booked by the Enforcement Directorate (ED) on charges of money laundering in the said scandal.

Sharma had petitioned the top Court seeking discharge from the case. Turning down his plea a division bench headed by Justice Vikram Nath ruled that discharging Sharma at this stage would be "premature and contrary to the principles governing the prosecution in money laundering cases".

The judgment adds that the offence alleged against Sharma "is clearly a continuing offence under the PMLA, and the quantum of proceeds of crime involved far exceeds the statutory threshold and requires proper investigation and judicial scrutiny". The ruling further states that the "illegal diversion and layering of funds have a cascading effect, leading to revenue losses for the state and depriving legitimate sectors of investment and financial resources".