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...
NRIs and OCIs can now digitally onboard to NPS with relaxed physical presence requirements, while ensuring stringent KYC, anti-fraud, and geo-tagging measures.
Jharkhand High Court held that bail application in the case of fake firms for passing on ineligible ITC by issuing fake GST bills not granted since twin conditions of Section 45 of Prevention of Money Laundering Act, 2002 [PMLA] not fulfilled.
Tribunal affirms major penalties for widespread delays and non-reporting of NTRs, STRs, and CBWTRs. Held that systemic AML lapses cannot be excused by technical issues; strict compliance is mandatory.
The Tribunal ruled that even without direct fund transfer, deep financial and management integration justified tagging the deposits as value of proceeds of crime. The attachment was sustained as the company formed part of the same economic group.
The Court upheld provisional attachment of Rs. 1.35 crore, finding the Appellant supplied cheaper PDW while claiming reimbursement at Rail Neer rates. The loss to the government and breach of mandatory supply obligations justified the action.
The case examines whether bank-account freezing orders can stand without meeting mandatory requirements under Section 20 before invoking Section 8. The Court held that failure to follow the statutory scheme vitiated the confirmation orders. The key takeaway is that procedural lapses render downstream PMLA actions legally unsustainable.
SC ruled that providing a Form 15CB certificate is a tax-compliance function, not a criminal act. Without proof of knowing assistance, CAs cannot be dragged into PMLA proceedings.
The Court found no grounds to interfere with the Madras High Court’s decision dated 08.08.2024 and dismissed all pending applications, affirming judicial consistency.
The Supreme Court partially set aside the Enforcement Directorate’s attachment order, restoring properties to the resolution applicant for the benefit of genuine homebuyers while maintaining attachment over 11 identified units linked to alleged proceeds of crime.
High Court ruled against petitioner, stating that offense of possessing significant cash and a gold bar is outside protection afforded by Section 218 of BNSS. Ruling affirms lower court’s order taking cognizance under Prevention of Money Laundering Act.
