Supreme Court Halts ED's Money Laundering Probe Against TASMAC
The Supreme Court has halted the Enforcement Directorate's (ED) money laundering probe against the Tamil Nadu State Marketing Corporation (TASMAC) pending a decision on a review plea related to the Prevention of Money Laundering Act (PMLA).
The probe is related to an alleged ₹1,000 crore scam. In May, the court stayed any coercive action and the money laundering probe against TASMAC, intervening in a petition by the Tamil Nadu government challenging the Madras High Court's decision to allow the ED probe to proceed.
A bench led by Chief Justice of India BR Gavai and Justice Vinod Chandran made the interim order absolute.
The top court had slammed the ED for its raids at the headquarters of TASMAC.
The decision comes as the court reviews the provisions of the PMLA.
Author's summary: Supreme Court stops ED probe against TASMAC.