Applicability of S.223 BNSS to PMLA Cases that Started Investigation Before July 1, 2024: Supreme Court Schedules Hearing on May 9

The Supreme Court has scheduled a hearing on May 9th to consider the applicability of Section 223 of the Bharatiya Nyaya Sanhita, 2023 (BNSS) to Prevention of Money Laundering Act (PMLA) cases that commenced investigation before July 1, 2024. This legal issue pertains to the transitional provisions and whether the new criminal procedure code will apply retrospectively to ongoing PMLA investigations. The Supreme Court's decision will have significant implications for the conduct of money laundering investigations initiated prior to the implementation of the BNSS, potentially affecting procedural aspects and the admissibility of evidence in these cases. The outcome of this hearing is keenly awaited by legal practitioners and enforcement agencies.