Corporate Law : Explore the Enforcement Directorate's role under PMLA, 2002, its procedural aspects, and major Supreme Court rulings. Understand i...
Corporate Law : Delhi HC asserts that Section 45 PMLA twin test for bail shouldn't cause indefinite detention, prioritizing liberty when trial del...
Corporate Law : J&K&L High Court quashes money laundering case against Farooq Abdullah, citing absence of a scheduled offence under the Prevention...
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 : 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...
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 : Supreme Court clarified procedures for summons, warrants, and bail under the Prevention of Money Laundering Act (PMLA), emphasizin...
Corporate Law : Patna HC rules that ED cannot arrest under PMLA after Special Court takes cognizance unless permitted. Arrest powers cease post-in...
Corporate Law : Supreme Court granted bail to women who is accused in complaint filed u/s. 44 of the Prevention of Money Laundering Act, 2002 sinc...
Corporate Law : Uttarakhand High Court held that bail of accused involved in drug trafficking and money laundering matter deserved to be rejected ...
Corporate Law : Madras High Court held that request for simultaneous trial both in PMLA and in predicate offence registered under IPC not accepted...
Income Tax : Notification designates special courts in Tamil Nadu under the Income Tax Act, 1961, and Black Money Act, 2015, for specific distr...
Finance : Aditya Birla Sun Life Mutual Fund granted Aadhaar authentication permission under the Prevention of Money-laundering Act, 2022....
Corporate Law : The Ministry of Finance permits INDmoney Pvt. Ltd. to use Aadhaar authentication for compliance with privacy and security standard...
Corporate Law : Ministry of Finance amends PMLA court notification, adding 1st Additional District and Sessions Judge, Dehradun, under Section 43 ...
Corporate Law : The Ministry of Finance designates new special courts in Kerala for PMLA cases, updating jurisdiction for various districts in the...
Sri Nanjundaiah Vs Union of India (Karnataka High Court) Sri Nanjundaiah (Petitioner), the founder of Kanva Souhardha Co-operative Credit Limited (Society) has filed the Bail Application in Special Criminal Case No.846/2020 registered by the Directorate of Enforcement (Respondent) for the offence punishable under Section 4 of the Prevention of Money Laundering Act, 2002 (PML Act). […]
Central Government hereby extend the period for which small account shall remain operational till 31st December, 2021 under Prevention of Money-laundering (Maintenance of Records) Rules, 2005. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 30th June, 2021 G.S.R. 461(E).—In exercise of the powers conferred by clause (iiia) of sub-rule(5) of rule 9 of […]
HDFC Bank Limited Vs Government of India (Patna High Court) In the case on hand what is noticeable that the statutory authority under Section 5 of the P.M.L.A., 2002 has not acted in accordance with the provisions of the enactment in question rather acted in defiance of the fundamental principles of judicial procedure and in […]
The Prevention of Money Laundering Act, 2002 (the Act) deals with not only attachment of property derived or obtained, directly or indirectly as a result of criminal activity relating to a scheduled offence but also with the attachment of the property legitimately acquired by accused as equivalent value if ‘proceeds of crime’ is not traceable. […]
The order of provisional attachment was not a final order and assessee had a remedy to raise all the pleas including that of jurisdiction of attaching authority and discrimination before the Adjudicating Authority and in the event these points were raised by assessee before the adjudicating authority, the authority should pass appropriate order in accordance with law.
High Court had refused to grant anticipatory bail to assessee-journalists who being accused of cheating depositors through Ponzi schemes as assessee had been indicted in an economic offence which was of serious in nature and the larger angle of conspiracy with regard to patronage of political and other persons in growth of such ponzi firms were required to be unearthed, no effective investigation could be made by the police by enlarging assessee on pre-arrest bail, even if he was ready and willing to cooperate with the investigation by remaining on pre-arrest bail.
Nillesh Parrekh Vs Assistant Director (Calcutta High Court) The Enforcement Directorate (ED) happens to be the specialised financial Investigating Agency under the Department of Revenue, which is entrusted to enforce the provisions of the Prevention of Money Laundering Act, 2002 (PML Act). As such, it will be utterly fallacious to suppose that only the Director […]
While before grant of bail the Public Prosecutor was required to be given an opportunity to oppose the plea for bail and that where the Public Prosecutor opposed such plea the Court could order release of the accused on bail only after recording a satisfaction that there were reasonable grounds for believing that the person to be released was not guilty of the offence he was accused of and that while on bail he was not likely to commit any offence.
Since there was no material to proceed against assessee under Sections 3 and 4 of Prevention of Money Laundering Act, 2002 and High Court should quash the proceedings if it came to the conclusion that allowing the proceedings to continue, would be an abuse of the process of the Court and that the ends of justice required that the proceedings be required to be quashed.
All You Need To Know About The Prevention Of Money Laundering Act 2002 (PMLA) – Latest Amendments & Impact By this article I shall deal with the evolution of the act called “The Prevention Of Money Laundering Act 2002 (PMLA)” which was formulated in the year 2002 under the NDA government and has undergone various critical changes […]
