Finance : Explore how cryptocurrencies are used for money laundering, the challenges faced by law enforcement, and the global regulatory res...
Corporate Law : Jharkhand High Court has recently granted bail to Hemant Soren, the former Chief Minister of Jharkhand, in connection with a high-...
Corporate Law : Explore the Prevention of Money Laundering Act (PMLA), its implications, recent amendments, and the role of financial professional...
Corporate Law : Explore the Prevention of Money Laundering Act (PMLA) in India, ED powers, and significant Supreme Court rulings impacting anti-mo...
Corporate Law : Analyzing the clash between India's Insolvency and Bankruptcy Code (IBC) and the Prevention of Money Laundering Act (PMLA), and th...
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...
CA, CS, CMA : Learn about ICSI's registration requirements on the PMLA Portal for Anti-Money Laundering (AML) and Combating the Financing of Ter...
Corporate Law : FIU-IND imposes a penalty of Rs. 5.49 Cr on Paytm Payments Bank for PMLA breaches related to illegal activities. Details of the in...
CA, CS, CMA : Explore the May 3, 2023, PMLA notification by FIU-IND, including Red Flag Indicators for CA reporting entities. Guidelines, FAQs, ...
Corporate Law : Detailed analysis of Pirtpal Singh vs Directorate of Enforcement case by Punjab and Haryana HC, regarding PMLA prosecution based o...
Corporate Law : Himachal Pradesh HC denies Rajdeep Singh's bail in the misappropriation of SC/ST/OBC scholarship funds case, citing unsatisfactory...
Corporate Law : Delhi High Court rejects a PIL filed by Ankur Gupta seeking a probe into alleged money laundering and tax evasion, citing previous...
Corporate Law : Allahabad High Court rejects bail for Udhaw Singh in a Rs 7.68 crores fraud case against home buyers and investors. Detailed analy...
Corporate Law : There was sufficient evidence collected by the respondent Enforcement Directorate to prima facie come to the conclusion that asses...
Corporate Law : Check the latest Ministry of Finance notification (S.O. 810(E)) listing reporting entities for Aadhaar authentication under the Pr...
Corporate Law : Read the latest notification by the Ministry of Finance, allowing specific reporting entities to use Aadhaar authentication for co...
Corporate Law : Read the latest Ministry of Finance notification granting Aadhaar authentication permission to reporting entities under the Money-...
Corporate Law : Ministry of Finance has made significant amendments to Prevention of Money Laundering Rules in 2023. Learn about changes and their...
Corporate Law : Notification on Appointment of Administrators under Section 10 of Prevention of Money-laundering Act, 2002. Learn about their role...
Money Laundering is linked with banking and trading history because it hides assets as money from the state from getting confiscated as well as taxed. It is said that such laundering is originally originate from the Mafia ownership of Laundromats, during the time of famous gangsters that came initially out of the Prohibition-banning of alcohol.
Ravi Kumar Vs State of Telangana (Telangana High Court) Admittedly, petitioner was arrested on 27.11.2021 and custody of petitioner was also sought for five days and the only allegation against the petitioner is that being a Chartered Accountant, without verifying the Bills of Entry and economic rationale of such large payments from paper entities had […]
Govt notifies that Rule 9(1A) of Prevention of Money-laundering (PML) (Maintenance of Records) Rules, 2005 shall not be applicable to Foreign Portfolio Investor (FPI) MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 4th January, 2022 G.S.R. 5(E).—In exercise of the powers conferred by sub-clause (i) of clause (h) of sub-rule (2) of rule […]
Govt Permits ‘PNB Housing Finance Limited’ to perform authentication under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 for the purposes of section 11A of the Prevention of Money-laundering Act, 2002. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 4th January, 2022 S.O. 37(E).—In exercise of the […]
It is one thing to say that Section 45 of the PMLA Act to offences under the ordinary law would not get attracted but once the prayer for anticipatory bail is made in connection with offence under the PMLA Act, the underlying principles and rigors of Section 45 of the PMLA Act must get triggered — although the application is under Section 438 of Code of Criminal Procedure.
Reliance Industries Limited Vs CCIT (Bombay High Court) Respondent no.1, by letter dated 21st October 2020, replied to petitioner’s application dated 15th April 2020 that petitioner was eligible / entitled to avail the benefit of DTVSV (Direct Tax Vivad Se Vishwas) Act in accordance with law. Following the said communication, petitioner filed 27 applications for […]
Nitin Jain Liquidator PSL Limited Vs Enforcement Directorate (Delhi High Court) A. The Court notes that the reliefs as framed in the writ petition essentially seek a restraint against the respondent from interfering in the liquidation process which had been set in motion. That challenge cannot stand eclipsed merely on account of the issuance of […]
At this stage, suffice for us to say that while referring to category ‘C’, inadvertently, Section 45 of Prevention of Money laundering Act (PMLA) has been mentioned which has been struck down by this Court. Learned ASG states that an amendment was made and that is pending challenge before this Court before a different Bench. That would be a matter to be considered by that Bench.
Madan Gopal Chaturvedi Vs Directorate of Enforcement (Special Court under P.M.L. Act, Bombay) Admittedly, after praying for calling the opinion and medical papers of Dr. Umesh Shetty, and on going through all the papers Exh.4 (colly.) Ld. S.P.P has not submitted any objection that all these medical papers are fake which are given by Dr. […]
The term ‘money laundering’ is generally attributed to the collective of procedures involved in legitimizing assets amassed by means which may not behave been legitimate. Described otherwise, it involves the transmutation of ill-gotten proceeds into ostensibly legitimate assets, and sometimes into businesses developed as means to generate more revenues to finance the very ill-means from where the proceeds were generated in the first place.
