Overview

• The bench of Justices Dipankar Datta and Augustine George Masih refused to interfere at this stage in ED proceedings arising from the illegal mining probe involving Obulapuram Mining Company.
• The Court noted that JSW Steel is no longer an accused in the CBI predicate case and that the ED’s ECIR does not name the company or its officers as accused.
• The dispute is confined to whether the ₹33.80 crore liability and withdrawals after provisional attachment amount to money-laundering under Section 3 of the PMLA.
• The ED alleges withdrawals from attached accounts, including with bank officials’ collusion, and says ₹16.55 crore remained with JSW, while the company argues the dealings were bona fide and through regular banking channels.
• The Supreme Court found no ground to quash cognisance or interdict proceedings and allowed JSW to pursue pending appeals before the PMLA Appellate Tribunal on their merits.