PMLA
To Say That ED Has To Wait For FIR In Scheduled Offence Will Make PMLA Unworkable, Says Supreme Court During Hearing
The Supreme Court on Wednesday remarked that while the existence of the predicate offence is a prerequisite for the commencement of the investigation by the ED under the PMLA, saying that the ED has to wait for the registration of the FIR in respect of the scheduled offence would make the system "unworkable" and be "counter-productive" to the intent of the PMLA.The Court cited...
PMLA Court Grants Bail To Yes Bank Founder Rana Kapoor, Bindu Kapoor And Gautam Thapar
A special court in Mumbai has granted bail to nine accused including Yes Bank founder Rana Kapoor, his wife Bindu and businessman Gautam Thapar in a case related to property sale in Delhi. Kapoor and Thapar, however, won't walk out of the prison yet, as they are in custody in another case.Special judge MG Deshpande, under the Prevention of Money Laundering Act (PMLA), granted bail to them for...
PMLA Provides Highest Benchmark For Arrest; Money Laundering Grave Offence As Victim Is National Economy, Says Supreme Court
The Supreme Court on Tuesday orally remarked that the fact that the PMLA Act contemplates a maximum punishment of 7 year' imprisonment for the offence of money-laundering does not take away from its gravity, and that the offence may well be "graver" in the sense that it does not affect just one individual but the victim is the national economy.A bench comprising Justices AM Khanwilkar,...
PMLA's Original Intent Getting Lost With Ordinary Crimes Being Added As Scheduled Offences : Senior Lawyers Argue In SC
The Supreme Court on Thursday continued hearing batch of petitions concerned with the interpretations of various provisions of Prevention of Money Laundering Act, 2002 ("PMLA Act")The matter was listed before the bench of Justices AM Khanwilkar, Dinesh Maheshwari and CT Ravikumar.Submission Of CounselsVacuum In Special Legislation Is To Be Filled By CrPC: Senior Advocate Vikram...
Supreme Court Permits Unitech Promoters Sanjay And Ajay Chandra To Have One Video Conferencing Meeting Every Fortnight With Their Lawyers
The Supreme Court on Thursday permitted Unitech promoters Sanjay and Ajay Chandra to have one video conferencing meeting every fortnight with their lawyers for a duration of one hour, with the added caveat that they shall furnish to the superintendent of the jail in advance the identity of the advocate or, as of the case maybe, the advocates, with whom the meeting will be held together with...
Expansive Powers Of Arrest & Attachment Under PMLA Creating Havoc: Sidharth Luthra To Supreme Court
The Supreme Court on Thursday continued hearing a batch of petitions concerned with interpretation of the Prevention of Money Laundering Act, 2002 ("PMLA Act").The matter was listed before the bench of Justices AM Khanwilkar, Dinesh Maheshwari and CT Ravikumar.Submissions Of Senior Advocate Sidharth Luthra Restrictions Under Section 45 Has Led To Series Of Disabilities To Individual...
PMLA Arrest Process Like A 'Frankenstein's Monster' : Kapil Sibal Urges Supreme Court To Devise Fair Procedure
The Supreme Court on Wednesday continued hearing a batch of petitions concerned with interpretation of the Prevention of Money Laundering Act, 2002 ("PMLA Act").The matter was listed before the bench of Justices AM Khanwilkar, Dinesh Maheshwari and CT Ravikumar.Submissions Of Counsel(s)We've Created Frankenstein Monster; Laws Of This Nature Should Be Dealt With As Quickly As Possible:...
Supreme Court Adjourns Pleas Challenging Provisions Of PMLA For January 25
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 problem is that there is a...
Rigors Of Section 45 PMLA Act Must Get Triggered While Considering Anticipatory Bail Plea In Connection With PMLA Offence: Supreme Court
The Supreme Court observed that, once the prayer for anticipatory bail is made in connection with offence under the Prevention of Money Laundering Act, the underlying principles and rigors of Section 45 of the PMLA Act must get triggered although the application is under Section 438 of Code of Criminal Procedure.It is the duty of court to examine the jurisdictional facts including the mandate...
Money Laundering Case: Anil Deshmukh Approaches Mumbai Special Court For Default Bail
Maharashtra's former Home Minister Anil Deshmukh, who was arrested on November 2 last year by the Enforcement Directorate in connection with a money laundering case, has filed for default bail under section 167 (2) of the Criminal Procedure Code, before the special court in Mumbai.Deshmukh is currently in judicial custody in an alleged Prevention of Money Laundering case and has filed for bail...
PMLA Authority Can Pass Order On Attachment Of Anil Deshmukh's Assets Worth 4.2 crore, But No- Coercive Steps Till January 10 : Bombay High Court
The Bombay High Court on Friday allowed the Adjudicating Authority under Prevention of Money Laundering Act to pass an order regarding attachment of assets belonging to former Home Minister Anil Deshmukh and his family but directed that no coercive steps should be taken till January 10 or without the HC's permission. A division bench of Justices Gautam Patel and the Madhav Jamdar...
Bombay High Court Restrains PMLA Adjudicating Authority From Passing Orders On Attachment Of Anil Deshmukh's Assets
The Bombay High Court on Monday restrained the Adjudicating Authority under the Prevention of Money Laundering Act from passing orders on the provisional attachment of assets of former Maharashtra Home Minister Anil Deshmukh, till January 14. A division bench of Justices Gautam Patel and Madhav Jamdar heard Anil Deshmukh's wife – Aarti's petition challenging the provisional...