Fema / RBI : RBI's KYC framework mandates customer identification, risk categorization, and ongoing monitoring to combat money laundering and t...
Corporate Law : The Court examined whether a predicate FIR is necessary before the ED can act under the PMLA. It held that inquiry proceedings and...
Fema / RBI : Individuals who receive or transfer funds on behalf of others may face prosecution under various Indian laws. The article explains...
Corporate Law : Organized crime disrupts fair competition by introducing illegal goods and laundering illicit funds. The analysis highlights its d...
Corporate Law : This examines whether recent rulings have strengthened or softened bail standards under PMLA. The key takeaway is that courts are ...
Finance : The agreements introduce structured protocols for intelligence sharing and monitoring compliance under PMLA. The ruling highlights...
Corporate Law : FIU-IND imposed a ₹9.27 crore penalty on Bybit for violating PMLA compliance. The platform operated without registration, leadin...
Corporate Law : Bombay High Court directs Enforcement Directorate to regulate statement recording hours under PMLA, emphasizing same-day examinati...
Corporate Law : Read about the Directorate of Enforcement's (ED) search operations under PMLA at 14 locations in Haryana and Punjab, uncovering ca...
Finance : Discover India exceptional performance in the FATF Mutual Evaluation 2023-24, placing it in the 'regular follow-up' category and b...
Corporate Law : Supreme Court granted bail under the PMLA, noting prolonged custody, documentary evidence, delayed trial, parity with co-accused, ...
Corporate Law : Supreme Court set aside the High Court's PMLA bail order for failure to apply Section 45 twin conditions and remanded the matter f...
Corporate Law : Karnataka HC refused to cancel bail, holding that the Section 45(1) PMLA proviso exempts women from the twin conditions, subject t...
Income Tax : Orissa HC permitted surrender and directed same-day bail consideration under a strict first hour-second hour timeline, applying pa...
Corporate Law : Karnataka HC granted PMLA bail after 275 days’ custody, holding Article 21 prevailed where trial had not progressed and delay wa...
Corporate Law : The Centre has permitted Home First Finance Company India Ltd. to perform Aadhaar authentication under Section 11A of the PMLA aft...
Corporate Law : The Finance Ministry has permitted seven reporting entities to conduct Aadhaar authentication under Section 11A of the PMLA. The n...
Corporate Law : NRIs and OCIs can now digitally onboard to NPS with relaxed physical presence requirements, while ensuring stringent KYC, anti-fra...
Finance : Ministry of Finance streamlines PMLA KYC rules for SEBI-defined intermediaries, allowing CKYCRR uploads, updates, and retrieval to...
Corporate Law : The Ministry of Finance has appointed 53 Special Public Prosecutors to handle cases on behalf of the Directorate of Enforcement un...
Kerala High Court held that writ against provisional attachment order passed u/s. 5(1) of the Prevention of Money Laundering Act [PMLA] is not maintainable since efficacious alternative statutory remedy available. Accordingly, writ dismissed.
Jharkhand High Court held that bail application stands dismissed since the material collected shows that the petitioner is prima facie guilty of an offence under Prevention of Money Laundering matter. Accordingly, bail application rejected.
India’s PMLA, 2002, mandates a robust Anti-Money Laundering (AML) framework for insurance companies, involving KYC, risk assessment, suspicious transaction reporting, and employee training to combat financial crime.
Bombay High Court held that that the stage which has been contemplated under Section 44(1)(c) of the Prevention of Money Laundering Act, 2002 [PMLA, 2002] will be after the jurisdictional Court has taken cognizance of the scheduled offences.
Madras High Court held that the PMLA demands the existence of a predicate offence. When there is no predicate offence, initiation of proceedings under PMLA is a non starter. Thus, no predicate offence, no action by ED.
Bombay High Court held that offences under the Bharatiya Nyaya Sanhita, 2023 [BNS] can be recognized as scheduled offences under the Prevention of Money Laundering Act, 2002 [PMLA] without a specific amendment of the PMLA Schedule.
Delhi High Court held that application for de-freezing bank account frozen under the Prevention of Money Laundering Act, 2002 [PMLA] cannot be permitted since the same would risk directly undermining the objectives and framework of the PMLA.
Calcutta High Court orders release of Dr. Kalyanmoy Ganguly in PMLA case, citing Supreme Court precedents on non-arrested accused.
Karnataka High Court granted bail for offence punishable under Section 4 of the Prevention of Money Laundering Act, 2002 [PML Act] taking into consideration the maximum punishment for the alleged offences and that there is no possibility of trial commencing in the near future.
Chhattisgarh High Court sets aside PMLA cognizance order against Arun Pati Tripathi, citing denial of hearing opportunity before cognizance.
