EXPLAINER -PMLA
3 years, 1 month ago

EXPLAINER -PMLA

The Hindu  

The story so far: The draconian Prevention of Money Laundering Act of 2002 has evolved as the Government’s “hatchet” law in recent years, considering the series of raids and arrests of politicians, their relatives, and activists. The statement of objects and reasons of the PMLA Bill of 1999 refers to various international conventions and instruments dealing primarily with money laundering related to crimes involving drugs and narcotics. These include the United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, 1988; the Basle Statement of Principles, 1989; the Forty Recommendations of the Financial Action Task Force on Money Laundering, 1990; the Political Declaration and Global Program of Action adopted by the United Nations General Assembly in 1990; the Resolution passed at the UN Special Session on countering World Drug Problem Together, etc. Ahead of the Punjab polls, the ED has arrested Chief Minister Charanjit Singh Channi’s nephew, Bhupinder Singh ‘Honey’, under money laundering charges in an illegal sand mining case. The ED has also summoned Abhishek Banerjee, Trinamool Congress leader and nephew of West Bengal Chief Minister Mamata Banerjee, for questioning in a money laundering case linked to an alleged coal pilferage scam.

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History of this topic

Book Launch: 'Treatise On PMLA Law & Practice' (2nd Edition) Authored By Akhilesh S. Dubey, Advocate & Solicitor [6th April]
20 hours, 22 minutes ago

Book Launch: 'Treatise On PMLA Law & Practice' (2nd Edition) Authored By Akhilesh S. Dubey, Advocate & Solicitor [6th April]

Live Law  

Bharat Law House Pvt Ltd has announced the release of “Treatise on PMLA Law & Practice”, authored by Mr. Akhilesh S. Dubey, Advocate & Solicitor. The book launch ceremony will be held on Sunday, 6th April 2025, at 10:30 AM at the South Lounge, Ground Floor, Center-1, World Trade Center, Cuffe Parade, Mumbai. Event Highlights Justice Ujjal Bhuyan, Judge, Supreme …

PMLA | For Acts Done Prior To Enactment Penalty Follows Only If Proceeds Of Crime Are Utilized, Article 20(1) Is Not Violated: Kerala HC
3 days, 21 hours ago

PMLA | For Acts Done Prior To Enactment Penalty Follows Only If Proceeds Of Crime Are Utilized, Article 20(1) Is Not Violated: Kerala HC

Live Law  

The Kerala High Court has held that Prevention of Money-Laundering Act, 2002 does not penalize a person for his past actions, but penal consequences only follow when the accused utilizes the proceeds of the crime from past actions for money laundering after the enactment of PMLA and the amendment to its schedule in 2009. Court said, “ In relation to …

PMLA case: Charges framed against ex-forest minister Sadhu Singh Dharamsot
1 week, 4 days ago

PMLA case: Charges framed against ex-forest minister Sadhu Singh Dharamsot

Hindustan Times  

A special court in Mohali framed charges against Congress leader and former state forest minister Sadhu Singh Dharamsot in connection with a PMLA case on Wednesday. Dharamsot, who held the forest department portfolio in the then Amarinder Singh-led cabinet, was the first former minister to be arrested during the tenure of the Aam Aadmi Party government, for allegedly taking kickbacks …

PMLA | Money Laundering Offence Continues So Long As Proceeds Of Crime Are Concealed, Used Or Projected As Untainted : Supreme Court
2 weeks ago

PMLA | Money Laundering Offence Continues So Long As Proceeds Of Crime Are Concealed, Used Or Projected As Untainted : Supreme Court

Live Law  

Observing that the offence of money laundering is a continuing offence and not a one-time occurrence, the Supreme Court today refused to discharge Pradeep Sharma, a former Gujarat IAS officer in a case under the Prevention of Money Laundering Act. The argument that no offence of money laundering could be made out because the alleged predicate offence occurred before the …

Prevention Of Money Laundering Act (PMLA): All India Annual Digest 2024
1 month, 3 weeks ago

Prevention Of Money Laundering Act (PMLA): All India Annual Digest 2024

Live Law  

Whether the High Court was justified in quashing the summons issued to the respondent merely on the premise that the respondent was discharged in the predicate offence. Bombay High Court Grants Bail To Accused In ₹6606 Crore Bitcoin Fraud Case, Cites Her Being A Woman, Mother Of Six-Yr-Old Case Title: Simpy Bhardwaj vs Union of India Citation: 2024 LiveLaw 522 …

ED shares how PMLA strengthened them and how the law was used under Modi Government to combat black money
2 months ago

ED shares how PMLA strengthened them and how the law was used under Modi Government to combat black money

Op India  

Under the Modi government, the Enforcement Directorate’s actions against corruption have gained momentum. The ED has also achieved great success in getting convictions under the money laundering law in the past years. 95% property seized under the PMLA act was during Modi government’s tenure According to a Hindustan Times report, under the Prevention of Money Laundering Act implemented in 2005, …

Centre grants sanction to ED to prosecute Kejriwal, Sisodia in money laundering case
Trending News
2 months, 2 weeks ago

Centre grants sanction to ED to prosecute Kejriwal, Sisodia in money laundering case

Firstpost  

After Centre’s approval, the ED can now frame charges against AAP leaders Arvind Kejriwal and Manish Sisodia. This clears the path for their prosecution in a money laundering case linked to Delhi’s scrapped excise policy. The Union home ministry has granted permission to the Enforcement Directorate to prosecute former Delhi Chief Minister and AAP national convenor Arvind Kejriwal, along with …

Existence Of "Proceeds Of Crime" Is Pre-Condition For Money-Laundering: J&K High Court Quashes PMLA Complaints In Alleged ₹250 Cr Scam
2 months, 3 weeks ago

Existence Of "Proceeds Of Crime" Is Pre-Condition For Money-Laundering: J&K High Court Quashes PMLA Complaints In Alleged ₹250 Cr Scam

Live Law  

Underscoring the necessity of the existence of "proceeds of crime" for constituting an offence under the Prevention of Money-Laundering Act, 2002 the Jammu and Kashmir and Ladakh High Court has reiterated that in the absence of such proceeds, no money-laundering offence could arise. The petitioners, who served as Chairman and Secretary, respectively, of the River Jehlum Co-operative House Building Society …

International trade-based money laundering bust in Chennai that got ED 14 per cent of its convictions
2 months, 4 weeks ago

International trade-based money laundering bust in Chennai that got ED 14 per cent of its convictions

New Indian Express  

CHENNAI: An investigation by the Enforcement Directorate into a money-laundering scam where at least Rs 120 crore worth US dollars were sent to Hong Kong through multiple shady accounts with two Chennai banks has given the agency six of its 42 all-India Prevention of Money Laundering Act convictions till date. The probe is significant for multiple reasons; firstly, ED got …

Reining in Excess: Punjab & Haryana High Court's Judgments Curtailing ED's Arbitrary Powers
3 months, 2 weeks ago

Reining in Excess: Punjab & Haryana High Court's Judgments Curtailing ED's Arbitrary Powers

Live Law  

The arrest and detention under the Prevention of Money Laundering Act often turn out to be a punishment due to the wide powers given to the Enforcement Directorate and its stringent bail provisions. Judges Of PMLA Courts Not Supposed To Act Like "Extended Arm Of ED" The High Court pointed out the practice of passing custodial interrogation orders in a …

India should increase capacity of court system to reduce number of pending trials in money laundering cases: FATF report
6 months, 1 week ago

India should increase capacity of court system to reduce number of pending trials in money laundering cases: FATF report

The Hindu  

India should aim to reduce the number of pending trials in money laundering cases by making major changes to increase the capacity of the court system, and potentially the capability of the Enforcement Directorate, as per the Financial Action Task Force mutual assessment report of India. Saturation of system The report said the limited number of specialised prosecutors in ED …

The Right To Bail Under Prevention Of Money Laundering Act: Balancing Justice And Liberty?
6 months, 2 weeks ago

The Right To Bail Under Prevention Of Money Laundering Act: Balancing Justice And Liberty?

Live Law  

In recent times, India's criminal law jurisprudence has witnessed an increasing emphasis on enacting stringent laws with an aim to curb economic offences, particularly the menace of money laundering. The Supreme Court held that while the nature of the offence under PMLA is indeed serious, the right to a speedy trial and the right to liberty cannot be ignored. The …

PMLA court summons Jaswant Gajjanmajra in ₹40-cr bank fraud case
1 year ago

PMLA court summons Jaswant Gajjanmajra in ₹40-cr bank fraud case

Hindustan Times  

A special CBI-cum-PMLA court on Monday summoned Aam Aadmi Party’s Amargarh MLA Jaswant Singh Gajjanmajra and other co-accused on April 1 in connection with the ₹40.92 crore bank fraud case. A PMLA court summoned AAP MLA Jaswant Gajjanmajra in the ₹ 40-cr bank fraud case. The court of Manjot Kaur, special judge, PMLA, summoned Jaswant Singh, his brother Balwant Singh, …

Vulnerable to criticism: On the ED and a possible violation of federal principles
1 year ago

Vulnerable to criticism: On the ED and a possible violation of federal principles

The Hindu  

The structure of the law against money laundering is bound to throw up perplexing questions about the possible violation of federal principles. One such question has arisen in Tamil Nadu, where the Enforcement Directorate is trying to find out whether illegal sand mining in the State is due to corruption and if the “proceeds” are being laundered. In ruling that …

Accused in ₹1,100 cr bank fraud denied plea for foreign travel
1 year, 4 months ago

Accused in ₹1,100 cr bank fraud denied plea for foreign travel

Hindustan Times  

MUMBAI:A special Prevention of Money Laundering Act court last week rejected the plea of Anil Chokhara, a prime accused in the ₹1,100 crore fake import remittances case, seeking permission to travel to Dubai for 20 days for a family vacation. HT Image Chokhara allegedly indulged in submitting forged import documents, bills of entry, and invoices to IndusInd Bank with the …

Money laundering case: PMLA court grants bail to ex-revenue officer
1 year, 5 months ago

Money laundering case: PMLA court grants bail to ex-revenue officer

Hindustan Times  

A Prevention of Money Laundering Act Special Court, Panchkula, granted bail to former district revenue officer-cum-land acquisition collector of Panchkula in a money laundering case linked to alleged financial fraud with the National Highways Authority of India and the Haryana State Infrastructural and Industrial Cooperation. Naresh Kumar Sheokhand, 63, former district revenue officer-cum-land acquisition collector of Panchkula had pressed on …

Money Laundering : A Process Or A Punishment
1 year, 6 months ago

Money Laundering : A Process Or A Punishment

Live Law  

Money laundering is something as engaging “proceeds of crime” in any matter projecting as untainted money. The Supreme Court’s ruling upholding all the contentious provisions of the Prevention of Money Laundering Act tumbles short of judicial standards of reviewing legislative action. The provisions of the PMLA must stand the test of due process under Article 21;Section 50 of the PMLA …

PMLA | 'Reason To Believe' Can't Be Mere Suspicion, Require Sufficient Evidence: Telangana High Court
1 year, 7 months ago

PMLA | 'Reason To Believe' Can't Be Mere Suspicion, Require Sufficient Evidence: Telangana High Court

Live Law  

The Telangana High Court has held that to constitute the offence of money laundering, the Enforcement Directorate must prove a reasonable basis to believe that the offence has been committed and generation of direct or indirect crime proceeds as a result of criminal activity which can be related to the offence. “However, the fact remains that accused Nos.1 to 3 …

PMLA in Consonance with Global Standards Set by Financial Action Task Force: Solicitor-General Tells Supreme Court
1 year, 11 months ago

PMLA in Consonance with Global Standards Set by Financial Action Task Force: Solicitor-General Tells Supreme Court

Live Law  

Provisions of the Prevention of Money Laundering Act, 2002 are in compliance with the global standard set by the Financial Action Task Force and a part of the intergovernmental response to organised crime, said Solicitor-General for India Tushar Mehta. On another day, senior counsel C Aryama Sundaram argued that he would read the judgement “as it stood” to support his …

Cryptos Under PMLA: A Move To Go A Long Way Towards Empowering Legitimate Businesses
2 years ago

Cryptos Under PMLA: A Move To Go A Long Way Towards Empowering Legitimate Businesses

News 18  

Earlier this month, the finance ministry notified that certain activities relating to virtual digital assets, including cryptocurrencies, will be brought under the ambit of the Prevention of Money Laundering Act, 2002. Now, service providers in this space, specifically VDA exchanges and wallet operators, need to conduct due diligence activities, including reporting suspicious transactions/ activities related to the sale or purchase …

Explained | Why is crypto trade within PMLA ambit?
2 years ago

Explained | Why is crypto trade within PMLA ambit?

The Hindu  

The story so far: On March 7, to further tighten the loosely regulated crypto market, the Finance Ministry said that all virtual digital assets will come within the ambit of the Prevention of Money Laundering Act, 2002. Editorial | Belated, but essential: On bringing all trade in virtual digital assets under the PMLA In July 2022, Union Minister of State …

Central agencies gear up for FATF mutual evaluations
2 years, 1 month ago

Central agencies gear up for FATF mutual evaluations

The Hindu  

Government agencies have expedited efforts to further strengthen the anti-money laundering and counter-terror financing frameworks in view of the coming Financial Action Task Force assessment of India in the fourth round of mutual evaluations expected later this year. The government has also organised a series of conferences focused on combating terror financing, including the United Nations Security Council Counter-Terrorism Committee …

PMLA proceedings stayed on Rs 73 cr letter of credit
2 years, 4 months ago

PMLA proceedings stayed on Rs 73 cr letter of credit

Deccan Chronicle  

Hyderabad: Justice K. Surender of the Telangana High Court stayed all further proceedings with respect to Varanasi Dileep in a case under Section 3 and 4 of Prevention of Money Laundering Act pertaining to a Rs 73 crore bogus letter of credit fraud. The Enforcement Directorate had initiated the money-laundering investigation into the petitioner and Khagesh Kachhwal on basis of …

Money laundering case against me opinionated: Anil Deshmukh tells Bombay High Court
2 years, 6 months ago

Money laundering case against me opinionated: Anil Deshmukh tells Bombay High Court

India Today  

A day after Supreme Court directions, the Bombay High Court again started hearing the bail application filed by former Maharashtra Home Minister and Nationalist Congress Party leader Anil Deshmukh in a money laundering case. Advocates Vikram Chaudhari, Aniket Nikam and Inderpal Singh appearing for Deshmukh argued that the Enforcement Directorate arrested Deshmukh based on evidence which he claimed was not …

PMLA verdict — due process will be bulldozed
2 years, 7 months ago

PMLA verdict — due process will be bulldozed

The Hindu  

Outcomes in matters of constitutional law disputes depend on the values that the constitutional court choose to emphasise over those it chooses to discount. The recent decision of the Supreme Court of India in Vijay Madanlal Choudhary vs Union Of India, where it found all the provisions of the Prevention of Money Laundering Act, 2002 as amended from time to …

Explained | What has the Supreme Court said on PMLA’s validity?
2 years, 8 months ago

Explained | What has the Supreme Court said on PMLA’s validity?

The Hindu  

The story so far: The Supreme Court has upheld several provisions of the Prevention of Money Laundering Act that deal with a wide range of issues, from what constitutes the main offence to the powers of the Enforcement Directorate and the procedure for conducting searches and seizures and effecting arrests. The UN Convention against Transnational Organized Crime of 2000 also …

Narrow view: The Hindu Editorial on the Supreme Court verdict on the Prevention of Money Laundering Act
2 years, 8 months ago

Narrow view: The Hindu Editorial on the Supreme Court verdict on the Prevention of Money Laundering Act

The Hindu  

Narrow view The Supreme Court’s verdict upholding all the controversial provisions of the Prevention of Money Laundering Act falls short of judicial standards of reviewing legislative action. Undergirding every aspect of its analysis is a belief that India’s commitment to the international community on strengthening the domestic legal framework for combating money-laundering is so inviolable that possible violation of fundamental …

SC upholds ED\'s powers under stringent PMLA
2 years, 8 months ago

SC upholds ED\'s powers under stringent PMLA

Deccan Chronicle  

New Delhi: The Supreme Court on Wednesday upheld the validity of various stringent provisions of the Prevention of Money Laundering Act empowering the Enforcement Directorate to arrest, provisionally attach properties suspected to be the proceeds of crime and is not bound to supply a copy of the ECIR at the time of detaining an accused in a money laundering case. …

Decoding the big SC verdict on Prevention of Money Laundering Act
2 years, 8 months ago

Decoding the big SC verdict on Prevention of Money Laundering Act

India Today  

In an important judgment on Wednesday, the Supreme Court upheld the provisions of the Prevention of Money Laundering Act and retained the powers of the Enforcement Directorate. The Parliament in its wisdom has regarded the property derived or obtained as a result of specified criminal activity, being an offence under the concerned legislation mentioned in the Schedule.” ON TWIN BAIL …

Keeping the ED impartial, apolitical
2 years, 8 months ago

Keeping the ED impartial, apolitical

Hindustan Times  

The Supreme Court backed the powers of the Enforcement Directorate under the 2002 Prevention of Money Laundering Act on Wednesday, holding that stringent provisions of attachment of property and arrest were constitutional and didn’t suffer from arbitrariness. The SC also said that supply of the Enforcement Case Information Report — the equivalent of the First Information Report — in every …

Money Laundering Offence Attracted By Mere Possession Of Crime Proceeds ; Projection As Untainted Property Not Required : SC Interprets "And" In Sec 3 PMLA As "Or"
2 years, 8 months ago

Money Laundering Offence Attracted By Mere Possession Of Crime Proceeds ; Projection As Untainted Property Not Required : SC Interprets "And" In Sec 3 PMLA As "Or"

Live Law  

By interpreting "and" in Section 3 of the Prevention of Money Laundering Act 2002 as "or", the Supreme Court held that mere possession or concealment of the proceeds of the crime is sufficient for the offence of money laundering and that it need not be projected as an untainted property. "Section 3 - Offence of money laundering - Whosoever directly …

Supreme Court upholds powers of arrest, raids, seizure under PMLA
2 years, 8 months ago

Supreme Court upholds powers of arrest, raids, seizure under PMLA

The Hindu  

The Supreme Court on Wednesday upheld the core amendments made to the Prevention of Money Laundering Act, which gives the government and the Enforcement Directorate virtually unbridled powers of summons, arrest, and raids, and makes bail nearly impossible while shifting the burden of proof of innocence on to the accused rather than the prosecution. The apex court called the PMLA …

Supreme Court upholds power of ED to arrest under PMLA
2 years, 8 months ago

Supreme Court upholds power of ED to arrest under PMLA

Hindustan Times  

The union government on Wednesday received a shot in the arm with the Supreme Court affirming the constitutional validity of the stringent provisions of the Prevention of Money Laundering Act. The bench, which will also comprise justices Dinesh Maheshwari and CT Ravi Kumar, held that the power given to ED for making arrests, conducting search and seizures and attach proceeds …

Money laundering: SC upholds ED’s power to arrest under PMLA
2 years, 8 months ago

Money laundering: SC upholds ED’s power to arrest under PMLA

Live Mint  

The Supreme Court has upheld the power bestowed upon the Enforcement Directorate to arrest under the Prevention of Money Laundering Act. The Supreme Court announced on July 15 that its decision regarding the arguments against the Prevention of Money Laundering Act's provisions is "nearly ready." Mufti contested Section 50's constitutionality as well as any ancillary sections of the 2002 Prevention …

Seeking to destroy India’s civil society
2 years, 8 months ago

Seeking to destroy India’s civil society

The Hindu  

Even though Prime Minister Narendra Modi proclaimed India as the mother of democracy on the eve of the G7 summit on June 26, 2022, the government’s attack on civil society has reached its zenith. That the Indian state is deeply suspicious of non-governmental organisations and civil society leaders was evident even from the 73rd graduation ceremony of the Indian Police …

Supreme Court to deliver verdict on pleas against Money Laundering Act today
2 years, 8 months ago

Supreme Court to deliver verdict on pleas against Money Laundering Act today

Hindustan Times  

The Supreme Court on Wednesday will deliver its judgment on a clutch of petitions challenging the validity of a slew of stringent provisions added to the Prevention of Money Laundering Act. A bench, headed by justice AM Khanwilkar, will pronounce its verdict on a spectrum of issues pertaining to the rigorous provisions enunciated under PMLA and the wide powers accorded …

ED raids locations in Jharkhand MGNREGA funds fraud PMLA case
2 years, 10 months ago

ED raids locations in Jharkhand MGNREGA funds fraud PMLA case

The Hindu  

The Enforcement Directorate on Friday conducted raids at multiple premises, including that of Jharkhand mining secretary, in connection with a money laundering case linked to alleged embezzlement of ₹18 crore MGNREGA funds in Khunti district of the state, officials said. They said the premises of IAS officer and Jharkhand mining secretary Pooja Singhal are also being covered as part of …

Explained | The functioning of the Enforcement Directorate
2 years, 11 months ago

Explained | The functioning of the Enforcement Directorate

The Hindu  

The story so far: The Enforcement Directorate is in the news now and often. It goes back to May 1, 1956, when an ‘Enforcement Unit’ was formed in the Department of Economic Affairs, for handling Exchange Control Laws violations under the Foreign Exchange Regulation Act. The ED today is a multi-dimensional organisation investigating economic offences under the Prevention of Money …

Alerting accused defeats PMLA’s purpose: Government
3 years ago

Alerting accused defeats PMLA’s purpose: Government

The Hindu  

Alerting an accused by sharing with him information about arrest, FIR and allegations in a money laundering case would defeat the very purpose of the law, the government argued in the Supreme Court on Wednesday. Arguing before a three-judge Bench led by Justice A.M. Khanwilkar, Solicitor-General Tushar Mehta, for the government, said "the very purpose of the Prevention of Money …

SC - PMLA
3 years, 1 month ago

SC - PMLA

The Hindu  

The government on Wednesday informed the Supreme Court that ₹18,000 crore was confiscated under the Prevention of Money Laundering Act from fugitive businessmen Vijay Mallya, Nirav Modi and Mehul Choksi, and returned to banks. Appearing before a Bench led by Justice A.M. Khanwilkar, Solicitor General Tushar Mehta submitted that money laundering is a "global problem". "Very small number of cases …

Only 313 Arrests Under PMLA In 20 Years; Strict Safeguards Are There : Solicitor General Tells Supreme Court
3 years, 1 month ago

Only 313 Arrests Under PMLA In 20 Years; Strict Safeguards Are There : Solicitor General Tells Supreme Court

Live Law  

"There may be some leeway to the legislature if there is no violation of any fundamental rights", he prayed. That gave several guidelines as to how the definition is to be framed, what should be the regime etc" "Ultimately, that led to one body which is also mentioned in the preamble to the Act- the Financial Action Task Force- it …

Very concept of offence of money laundering in PMLA is very wide: SC
3 years, 1 month ago

Very concept of offence of money laundering in PMLA is very wide: SC

The Hindu  

The Supreme Court on February 22 said the very concept of the offence of money-laundering in the Prevention of Money Laundering Act is “very wide” and any activity connected with the proceeds of crime is encompassed within the expression of Section 3 of the legislation. Section 3 of the PMLA says whosoever directly or indirectly attempts to indulge or knowingly …

Court issued production warrant to Dawood Ibrahim’s brother
3 years, 1 month ago

Court issued production warrant to Dawood Ibrahim’s brother

The Hindu  

A special court in Mumbai on Wednesday issued a production warrant against gangster Dawood Ibrahim’s brother Iqbal Kaskar in a money laundering case registered by the Enforcement Directorate. The special Prevention of Money Laundering Act court issued the warrant and directed the Taloja Central Jail authorities to produce Kaskar from the prison after ED’s counsel Hiten Venegavkar urged the court …

PMLA Interpretation: Senior Lawyers Question Constitutionality Of Bail, Arrest & Attachment Procedure
3 years, 1 month ago

PMLA Interpretation: Senior Lawyers Question Constitutionality Of Bail, Arrest & Attachment Procedure

Live Law  

The Supreme Court on Wednesday continued hearing the batch of petitions concerned with the interpretation of the Prevention of Money Laundering Act, 2002.The matter was listed before the bench of Justices AM Khanwilkar, Dinesh Maheshwari and CT Ravikumar.Submission Of CounselsSubstance Of PMLA Is That It's Impossible For Accused & Judge Per Se To Give Bail Which Amounts To. Explanation Under …

PMLA Reverses Burden Of Proof Without Safeguards; Gives Unchecked Powers To ED To Take Over Properties : Singhvi To Supreme Court
3 years, 1 month ago

PMLA Reverses Burden Of Proof Without Safeguards; Gives Unchecked Powers To ED To Take Over Properties : Singhvi To Supreme Court

Live Law  

The Supreme Court on Tuesday continued hearing the batch of petitions concerned with the interpretation of the Prevention of Money Laundering Act, 2002.The matter was listed before the bench of Justices AM Khanwilkar, Dinesh Maheshwari and CT Ravikumar.Submissions Of Senior Advocate AM SinghviSection 24 Gives Presumption Regarding The Offense Without Giving Any Safeguard With. Submissions Of Senior Advocate AM Singhvi …

Transitioning Of The Law On Money Laundering In India
3 years, 2 months ago

Transitioning Of The Law On Money Laundering In India

Live Law  

Prior to the year 2005, the casting of money laundering had been difficult. Scheduled Offences The Prevention of Money Laundering Act, 2002, the scheduled offences had provisions from six different legislations, including the Indian Penal Code 1860, NDPS Act, 1985; Arms Act, 1959, Wildlife Protection Act, 1972, Immoral Traffic Act, 1956 and Prevention of Corruption Act, 1988. Nikesh Tarachand Shah …

Supreme Court Adjourns Pleas Challenging Provisions Of PMLA For January 25
3 years, 2 months ago

Supreme Court Adjourns Pleas Challenging Provisions Of PMLA For January 25

Live Law  

The Supreme Court today adjourned the batch of petitions concerned with the interpretation of the Prevention of Money Laundering Act for January 25, 2022.Since the batch of pleas were listed for January 11, 2022 Senior Advocate Kapil Sibal today mentioned the matter before the bench headed by Justice AM Khanwilkar for adjourning the matter for 4-6 weeks. The Supreme Court …

Enforcement Directorate May Probe PMLA Cases Throughout India, Including J&K: Karnataka High Court
3 years, 2 months ago

Enforcement Directorate May Probe PMLA Cases Throughout India, Including J&K: Karnataka High Court

Live Law  

The Karnataka High Court has said that the Enforcement Directorate can probe a case under the provisions of Prevention of Money Laundering Act, throughout India, including the Union Territory of Jammu and Kashmir. Case Background: Petitioners Anish Mohammed Rawther and others had approached the High Court challenging the proceedings initiated against them by the Enforcement Directorate under the provisions of …

Use PMLA Reasonably; Otherwise Act Will Lose Relevance : Supreme Court Tells Enforcement Directorate
3 years, 3 months ago

Use PMLA Reasonably; Otherwise Act Will Lose Relevance : Supreme Court Tells Enforcement Directorate

Live Law  

The Supreme Court of India on Wednesday made strong remarks against the indiscriminate use of the Prevention of Money Laundering Act which according to the Bench will result in dilution of the Act. A Bench comprising Chief Justice of India NV Ramana, Justice AS Bopanna and Justice Hima Kohli made the observations while hearing two matters where the petitioners have …

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