Delhi High Court Stays Order Of Rs. 96 lakh Penalty Imposed By Financial Intelligence Unit To PAYPAL, Notice Issued To RBI
3 years, 11 months ago

Delhi High Court Stays Order Of Rs. 96 lakh Penalty Imposed By Financial Intelligence Unit To PAYPAL, Notice Issued To RBI

Live Law  

Directing PayPal to maintain a record of all its transactions, Delhi High Court on Tuesday granted stay on a plea by the payment gateway challenging the imposition of Rs. Justice Pratibha Singh issued notice on the plea by PayPal and and directed the Financial Intelligence Unit to file its response on the matter by Feb 26. The plea concerns itself with issues regarding the inclusion of PayPal as a reporting agency under the Prevention of Money Laundering Act, and directs RBI and the Finance Ministry to take a policy decision on the issue after the deliberation over the same by a committee of its representatives. A plea against the operations of PayPal was also filed last year, by one Abhjiit Mishra before the Delhi High Court, alleging that the operations of PayPal as a payment system in India is against Section 4 of the PSS Act, 2007.

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History of this topic

PayPal Moves Delhi HC Against Order Recognising It As Payment System Operator Under PMLA
1 year, 4 months ago

PayPal Moves Delhi HC Against Order Recognising It As Payment System Operator Under PMLA

ABP News  

PayPal on Wednesday moved Delhi High Court against an order which said that the US firm was a "payment system operator" under the Prevention of Money Laundering Act and that it has to comply with "reporting obligations" under the act. PayPal has been contesting that it only operates as an Online Payment Gateway Service Provider or a payment intermediary in …

PayPal Liable To Be Viewed As ‘Payment System Operator’, Required To Comply With Reporting Entity Obligations Under PMLA: Delhi High Court
1 year, 4 months ago

PayPal Liable To Be Viewed As ‘Payment System Operator’, Required To Comply With Reporting Entity Obligations Under PMLA: Delhi High Court

Live Law  

The Delhi High Court has held that payment platform PayPal is liable to be viewed as a “payment system operator” and consequently obliged to comply with reporting entity obligations as placed under the Prevention of Money Laundering Act, 2002.Justice Yashwant Varma made the observation while quashing the monetary penalty imposed by Financial Intelligence Unit India on PayPal in December. The …

Delhi High Court Seeks Response From CBIC On Airtel's Plea For Refund Of Excess GST Worth Rs. 923 Crores
4 years ago

Delhi High Court Seeks Response From CBIC On Airtel's Plea For Refund Of Excess GST Worth Rs. 923 Crores

Live Law  

The Delhi High Court on Wednesday sought a reply from the Central Board of Indirect Taxes and Customs on Bharti Airtel's plea claiming non-implementation of the Delhi High Court's order allowing rectification of excess GST worth Rs.923 crores paid by it for the period between July-September 2017. Citing 'great financial strain' telecom major Bharti Airtel moved the Court seeking implementation …

Delhi govt not sanctioning funds for lower courts, High Court to release its own funds
4 years, 2 months ago

Delhi govt not sanctioning funds for lower courts, High Court to release its own funds

Op India  

On Wednesday, the Delhi High Court slammed the Kejriwal-led AAP government for not sanctioning funds for the basic requirements of the district courts. The Delhi High Court has directed that Rs 2.52 crore be immediately released from its own fund to facilitate the recruitment process before district courts. You want to kill the goose that lays the golden egg?” More …

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