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...
Court of Sessions, Khurda at Bhubaneswar & Court of Special Judge (Central Bureau of Investigation), Bhubaneswar designated as Special Court under the Prevention of Money-Laundering Act, 2002
Paypal Payments Private Limited Vs Financial Intelligence Unit India (Delhi High Court) The Petitioner in the present petition challenges the impugned order dated 17th December, 2020, passed by the Director, Financial Intelligence Unit-India, Ministry of Finance, Government of India. By the impugned order, the Petitioner has been held to be a ‘reporting entity’ and a […]
Bliss Abode Pvt Ltd Vs Zonal Office Directorate of Enforcement & Ors (Delhi High Court) The Delhi High Court directed that n order to avoid a dispute in future and to ensure fairness and non-arbitrariness, the Registrar of the Adjudicating Authority under the PMLA shall ensure that in future, all orders passed by the Adjudicating […]
Central Government hereby notifies the dealers in precious metals, precious stones as persons carrying on designated businesses or professions — if they engage in any cash transactions with a customer equal to or above Rupees ten lakhs, carried out in a single operation or in several operations that appear to be linked.
These rules may be called the Prevention of Money-laundering (Maintenance of Records) Fourth Amendment Rules, 2020. (2). They shall come into force on the date of their publication in the Official Gazette.
Okram Ibobi Singh Vs Directorate of Enforcement (Manipur High Court) Petitioner is the Ex-Chief Minister of the State and it is not as if he will run away from the prosecution, if any, initiated against him. The learned counsel for the petitioner, during the course of the arguments, explicitly stated that the petitioner would extend […]
Where assessee was the Managing Director of ITNL when all the 10 alleged bogus contracts were awarded therefore, assessee’s knowledge and involvement in the alleged awarding of contracts could not be ruled out. Indeed, the Investigating Officer had interrogated the assessee twice, however looking at the gravity of the offence and the aspect of pending investigation relating to finding out the real beneficiaries of the siphoned off money, this Court found itself in disagreement with the submission that no more interrogation in custody was required. Accordingly, the assessee’s bail application was dismissed on account of involvement of huge money laundering .
Katta Subramaniam Naidu Vs Deputy Director (Karnataka High Court) In this batch of petitions, petitioners have questioned the correctness and legality of the proceedings initiated against them under sections 3, 4 and 8(5) of the Prevention of Money Laundering Act, 2002 (for short ‘PML Act’). 2. The common grievance of the petitioners is that they […]
Dyani Antony Paul Vs Union Of India (Karnataka High Court) The main object of PML Act is to ascertain the proceeds of crime which involved in money laundering and attachment, confirmation and confiscation of the proceeds of crime in the form of properties and also to punish the offenders of money laundering. The date of […]
Money laundering is a serious economic offence and serious threat to the national economy and national interest and, these offences are committed with cool calculation with the motive of personal gain regardless of the consequences on the society.
