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...
PMLA and KYC compliance for an AIF (Alternative Investment Fund) INTRODUCTION KYC as a part of PMLA compliance is a mandatory compliance procedure that regulators in India have specified for Banks and financial intermediaries registered with these regulators. The KYC is one of the most vital compliance process for any institution dealing in the financial […]
Fairdeal Supplies Limited & Anr.Vs. Union of India & Ors. (Calcutta High Court) (i) On a plain reading of Section 2(1)(y) and Section 3 of the PMLA , it appears to me that the legislature has bifurcated the offence under PMLA into “Scheduled Offence” and “Offence of money-laundering”. “Scheduled Offence” are provided in Part A […]
Govt amends Courts for trial of cases under Prevention of Money Laundering Act, 2002 (PMLA 2002) in Kerala in consultation with the Chief Justice of the concerned High Court. MINISTRY OF FINANCE (Department of Revenue) Notification New Delhi, the 15th April, 2021 S.O. 1648 (E).—In exercise of the powers conferred by sub-section (1) of section […]
Babulal Verma Vs Enforcement Directorate (Bombay High Court) For initiation/registration of a crime under the PMLA, the only necessity is registration of a Predicate/Scheduled Offence as prescribed in various Paragraphs of the Schedule appended to the Act and nothing more than it. In other words, for initiating or setting the criminal law in motion under […]
Assesssee was admitted to bail linked to bank loan fraud arrested by the Enforcement Directorate under the Prevention of Money Laundering Act, 2002 (PMLA) on his furnishing personal bond in the sum of Rs. 1,00,000/- with one surety of the like amount to the satisfaction of Trial Court as it was not the case of the prosecution that the accused was of such character and stature that his mere presence at large would intimidate the witnesses and there was no material on record to show that if released on bail, he would tamper with the evidence or subvert the course of justice.
Reserve Bank of India in its press release in various newspapers and in its website has informed us that the Financial Action Task Force (FATF), vide public document ‘High-Risk Jurisdictions subject to a Call for Action’ dated February 25, 2021, has called on its members and other jurisdictions to refer to the statement on these […]
Central Government notifies Wildlife Crime Control Bureau In exercise of the powers conferred by clause (ii) of sub-section (1) of section 66 of the Prevention of Money-laundering Act, 2002.
State or Union territory wise Court of Session designated as Special Court under the Prevention of Money-laundering Act, 2002 for Area specified for trial of offence punishable under section 4 of the Prevention of Money-laundering Act, 2002 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 22nd February, 2021 S.O. 794(E).—In exercise of the […]
Dilliraj Vs Deputy Director (Madras High Court) HC held that we are unable to persuade ourselves to agree with the Enforcement Directorate that the salaries and perquisites that were paid to Dilliraj (A.1) while he was in employment with FLCI would amount to proceeds of crime and any property purchased with that would stand tainted. […]
R. Viswanathan Vs Assistant Director Directorate of Enforcement (Madras High Court) From a reading of Section 2(u) of the PML Act which defines the expression “proceeds of crime”, it is limpid that the profit derived or obtained must be a result of a criminal activity which relates to a schedule offence. Even if we take […]
