Black money: PMLA cases face setback as special court goes vacant

NEW DELHI: In a major blow to fight against black money, a special authority established to try money laundering cases bearing revenue value of crores of rupees has been rendered vacant as the lone member of the three-member body resigned today.

The Adjudicating Authority (AA) under the Prevention of Money Laundering Act (PMLA) is designated to function as the first appellate authority against attachment of assets made by the Enforcement Directorate (ED) under stringent money laundering laws.

Any party whose assets, whether movable or immovable, have been attached by the ED under PMLA laws can appeal before the special court which has to decide on the extension of the freeze within 180 days of the issue of the order by the probe agency.

While the special court was already under-staffed, in the absence of a Chairman for the last about five months, the other post of the Member (acting as Judge) has been vacant for over a year now.

The lone serving Member of the AA Mukesh Kumar, an ex-Director General of Income Tax (Investigations), tendered his resignation today citing "personal reasons".

"I shall be relinquishing office on the expiry of 3 months from the date of receipt of this letter (April 27, 2015) in your office unless my resignation is accepted from the earliest date.

"I am thankful to your good self for kind cooperation extended by your Honour from time to time," Kumar said in his letter, accessed by PTI, sent to the President's office through the Revenue Secretary.