SC Declines to Quash ED Case Against JSW Steel – Says Tribunal Must First Decide on “Proceeds of Crime”

JSW Steel Limited Etc. Vs Deputy Director (Supreme Court of India) SC Refuses to Quash ED Case Against JSW Steel – Says PMLA Tribunal Must First Decide on ‘Proceeds of Crime’- JSW Steel Not Named in ECIR – SC Refuses to Quash ED Case, Says Let PMLA Tribunal Decide Background & Facts JSW Steel Ltd. entered into a 2009 supply agreement with Obulapuram Mining Company (OMC) for 1.5 million MT of iron ore. After partial supply, OMC failed to deliver the balance. Arbitration followed, & by award dated 09.05.2014, OMC was directed to refund amounts to JSW. Meanwhile, CBI registered RC...