PMLA
Delhi High Court Slams ED For Freezing Woman's Bank Accounts By Issuing 'Cryptic' Orders, Says 'Suspicion' Not 'Reason To Believe'
The Delhi High Court on Friday slammed the Enforcement Directorate (ED) for freezing bank accounts of a woman on mere suspicion, while setting aside the agency's orders calling them “cryptic” in nature. A division bench comprising Justice Subramonium Prasad and Justice Harish Vaidyanathan Shankar observed that “suspicion” cannot be equated to a “reason to believe” and cannot also...
Supreme Court Seeks ED's Response On Ex-Tamil Nadu Minister Senthil Balaji's Plea To Relax Bail Conditions In Money Laundering Case
The Supreme Court today issued notice on an application filed by ex-Tamil Nadu Minister V Senthil Balaji seeking relaxation of his bail conditions in the money laundering case arising out of the cash-for-jobs 'scam'.A bench of Justices Surya Kant and Joymalya Bagchi passed the order, after hearing Senior Advocates Kapil Sibal and Narendra Hooda. Advocate Zoheb Hossain appeared for ED and...
VC Rules No Shelter For PMLA Accused To Evade Physical Appearance In ED Probe: Delhi High Court
The Delhi High Court on Tuesday ruled that the videoconferencing rules do not operate as a shelter for a money laundering accused to evade physical and mandatory appearance in investigation by the Enforcement Directorate (ED). Justice Neena Bansal Krishna observed that VC facility is a measure to facilitate evidence recording, not to protect an absconding accused from facing...
Provisional Attachment Order Can't Be Challenged In Writ Jurisdiction When Alternative Remedy Under PMLA Exists: Delhi High Court
The Delhi High Court has observed that the provisional attachment order (PAO) cannot be challenged in the writ jurisdiction when an alternative remedy is available under the Prevention of Money Laundering Act, 2002.Justice Sachin Datta rejected a batch of petitions filed by Ms Krrish Realtech Pvt Ltd and its affiliates, including director Amit Katyal, challenging the Enforcement...
Profits Earned On Bribe After Investment In Share Market Also Part Of Proceeds Of Crime, Can Be Attached Under PMLA: Delhi High Court
The Delhi High Court on Monday ruled that the profits earned on bribe money after investment in share market amounts to proceeds of crime and is liable to be attached under the PMLA. A division bench comprising Justice Anil Kshetarpal and Justice Harish Vaidyanathan Shankar said that the appreciation in value does not cleanse or purify the “tainted origin,” since the augmented value...
Seizure Of ₹2 Crore, Gold Bar From Govt Officer's Home Can't Relate To Official Act; Sanction For Prosecution Not Needed: Rajasthan High Court
The Rajasthan High Court dismissed a public servant's plea booked in a corruption case who had challenged an order taking cognizance of offences under PMLA on the ground that no prior sanction was taken as per Section 218 BNSS.In doing so the court observed that there were over Rs 2 crore cash and a gold bar worth over Rs 60 Lakh seized from the petitioner's residence and the same cannot...
Vasai-Virar Illegal Constructions Case: Supreme Court Issues Notice On ED's Challenge To HC Quashing Arrest Of IAS Officer
The Supreme Court today issued notice on a plea filed by the Enforcement Directorate challenging Bombay High Court's declaration of suspended IAS officer and Vasai Virar City Municipal Commissioner Anilkumar Pawar's arrest as illegal.A bench of Justices Vikram Nath and Sandeep Mehta passed the order, after hearing Additional Solicitor General SV Raju (for ED). On a specific Court query, the...
ED Can Treat Coal Block Allocation Obtained By Deceit As 'Property' Involved In Money Laundering: Delhi High Court
The Delhi High Court has held that coal block allocation obtained through misrepresentation or fraud leading to proceeds of crime amounts to an offence of money laundering under the PMLA.A division bench comprising Justice Anil Kshetarpal and Justice Harish Vaidyanathan Shankar said that obtaining financial benefits in the form of profits earned from the extraction and sale of coal or through...
Supreme Court Refuses To Quash Money Laundering Case Against JSW Steel Over Dealings With Obulapuram Mining Company
The Supreme Court today refused to quash PMLA proceedings against JSW Steel Limited in relation to alleged illegal mining by mining companies owned by former Karnataka minister G. Janardhana Reddy.A bench of Justice Dipankar Datta and Justice Augustine George Masih noted that JSW steel is no more an accused in the predicate offence investigated by the CBI, and the ECIR also doesn't name JSW...
Delhi High Court Says ED's Approach Of Not Arresting Main Accused 'Arbitrary', Grants Bail To Others
The Delhi High Court has granted bail to three men in a money laundering case, while saying that the approach of the Enforcement Directorate (ED) in not arresting the main accused with graver role was “manifestly arbitrary.”“Having not arrested an accused who appears to have a graver role than the applicants and not even arraigned a person named to have facilitated in arranging the...
Confirmation Of Attachment Under PMLA Does Not Authorize Property Retention, Valid Order Must: Delhi High Court
The Delhi High Court has observed that the confirmation of attachment of property involved in money laundering under Section 8(3) of PMLA does not authorize retention of such a property, as the process requires a valid order to be passed under Section 20. A division bench comprising Justice Subramonium Prasad and Justice Harish Vaidyanathan Shankar said that the procedural safeguards...