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 ...
Fema / RBI : Courts have held that money laundering is a distinct offence from the predicate crime. Parallel prosecutions under PMLA do not vio...
Corporate Law : The High Court will examine whether bail granted under the Section 45 proviso for women can be cancelled absent perversity or misu...
Corporate Law : The case analysis explores whether India’s anti-money laundering framework is effective despite comprehensive legislation. Court...
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...
Fema / RBI : The issue was whether properties purchased using company funds could escape benami classification. The Tribunal held that unexplai...
Fema / RBI : The Tribunal ruled that transactions predating the alleged crime cannot be treated as proceeds of crime without a clear link. It s...
Fema / RBI : The issue was whether properties unconnected to crime could be attached under PMLA. The Tribunal held that equivalent value assets...
Fema / RBI : The Tribunal ruled that taxation of income does not negate its use in benami transactions. Even disclosed or assessed income can f...
Fema / RBI : The issue was whether property not directly linked to crime could be attached. The Tribunal held that attachment of equivalent val...
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...
Corporate Law : The Ministry of Finance has designated the Court of Principal District and Sessions Judge, North Goa, to handle PMLA cases across ...
Corporate Law : Jurisdiction for PMLA cases in Chhattisgarh updated to the VI Additional Sessions Court, Raipur, covering the entire state....
Money-laundering can be defined as a process by which a person makes huge income out of the illicitly obtained money and he has placed it into a chain of transactions to hide its origin. Section 3 of Prevention of Money laundering Act, 2002 defines offences of Money-laundering. This article is small attempt to examine the […]
In present facts of the case, the Hon’ble Calcutta High Court allowed the Writ Petition filed by the Petitioner to operate his bank accounts and postal accounts in question, which were attached by the Respondent as time limit of 180 days under section 5 of the Prevention of Money Laundering Act, 2002 were expired.
Bhimendra Kumar Goyal Vs Enforcement Directorate (Andhra Pradesh High Court) Hon’ble Apex Court in catena of cases observed that while granting bail the Court has to keep in mind the nature of accusation, the nature of evidence in support thereof, the severity of the punishment which conviction will entail, the character of the accused, circumstances […]
In Directorate of Enforcement v. Raj Singh Gehlot [ECIR/14/HQ-STF/2019 dated September 10, 2021], Raj Singh Gehlot (the Applicant) moved a bail application for grant of regular bail but the bail plea was dismissed by Hon’ble Patiala House Court. In this case the Hon’ble Patiala House Court dismissed the bail plea of Applicant, the owner of […]
V.P. Zacharia Vs State of Kerala (Kerala High Court) his is a case where the 2nd respondent/accused has been successful in rebutting the statutory presumption under Section 139 of the Negotiable Instruments Act. The fact that there was an earlier transaction in the year 1995 and that liability had been settled by repayment is a […]
Summary There has been a long and unsettling dispute on the question as to (1) Whether Proceeds of Crime includes Clean and Untainted Property also ? and (2) What are rights of 3rd party claiming legitimate & bonafide interest and possession in such Clean and Untainted Property, being attached by the Enforcement Authorities under PMLA. […]
Chief Justice of High Court of Delhi, hereby designates the Court of Special Judge (Prevention of Corruption Act) (Central Bureau of Investigation)-09, Rouse Avenue Court Complex, New Delhi as Special Court for dealing with and trial of offence of the money laundering under the Prevention of Money-laundering Act, 2002 for all matters relating thereto 2G […]
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 […]
