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...
The key issue was whether cash falls within the definition of property under the PBPT Act. The Tribunal ruled that cash is a tangible movable asset and may be confiscated as benami property when ownership and source remain unverified.
The case examined whether Indian assets could remain seized after foreign asset value was repatriated. The Tribunal ruled that once the objective of Section 37A is fulfilled, continued attachment loses its basis.
The appellant claimed the disputed funds were received unknowingly and had attempted to return them. The Tribunal granted relief by ordering release of the attached account after deposit of the entire disputed sum.
The Tribunal held that bank accounts cannot remain frozen merely because the account holder is related to a suspect or under investigation. The ED must first establish a prima facie connection between the property and proceeds of crime.
The Tribunal held that retention of seized assets can continue under Section 8(3) when a PMLA prosecution complaint is already pending. The key takeaway is that ED need not file a fresh or supplementary complaint for every newly seized asset.
The Chhattisgarh High Court denied anticipatory bail after finding prima facie material indicating involvement in the alleged coal levy scam. The Court held that custodial interrogation was necessary due to statements, electronic evidence, and the seriousness of the economic offence.
The SAFEMA Appellate Tribunal held that properties belonging to an alleged abettor cannot be attached under the PBPT Act unless those properties are independently proved to be benami properties. The Tribunal clarified that the Act permits attachment only of benami properties held by a benamidar or beneficial owner.
The Appellate Tribunal under SAFEMA held that routing demonetized cash through another person’s bank account constituted a benami transaction under the PBPT Act. The Tribunal ruled that cash qualifies as “property” and attachment could continue to the extent of the remaining benefit retained.
The Finance Ministry has permitted seven reporting entities to conduct Aadhaar authentication under Section 11A of the PMLA. The notification highlights compliance with privacy and security standards under the Aadhaar Act after consultation with UIDAI and RBI.
Delhi HC held that proviso to Section 45 of PMLA grants discretionary relief to women accused and stringent twin bail conditions would not ordinarily apply unless exceptional circumstances exist.
