PMLA
Supreme Court Orders Release Of Rs.1 Crore Deposited By Lok Sabha MP Karti P Chidambaram As Pre-Condition For Foreign Travel
The Supreme Court today ordered release of Rs.1 crore amount deposited by Lok Sabha MP Karti P Chidambaram with the Court's Secretary General as a pre-condition for foreign travel in 2022.A bench of Justices Surya Kant, Ujjal Bhuyan and N Kotiswar Singh passed the order, noting that pursuant to the 2022 order, Chidambaram travelled abroad and deposited his passport with the Investigating Officer...
PMLA Review Hearing : Live Updates From Supreme Court
The Supreme Court is hearing the review petitions filed against the 2022 judgment in the Vijay Madanlal Choudhary case which upheld the various provisions of the Prevention of Money Laundering Act (PMLA) relating to arrest, search & seizure, reverse burden of proof, non-supply of ECIR copy etc.A bench comprising Justice Surya Kant, Justice Ujjal Bhuyan and Justice NK Singh has decided to...
PMLA & Real Estate: Why Developers And Agents Must Rethink Compliance
The real estate industry in India has long been known for the exploitation and malpractices of the builders. With the introduction of Real Estate (Regulation and Development) Act, 2016, there has been a fair attempt to bring the real estate sector under scrutiny by imposing mandatory compliances and heavy penalties on the developers. One of the major developments in the real estate industry has been the inclusion of real estate developers, brokers and agents within the legal ambit of...
CJI BR Gavai To Discuss With Justice Surya Kant On Hearing PMLA Review & Pleas To Refer 'Vijay Madanlal' Judgment Together
Senior Advocate Kapil Sibal on Monday (August 4) requested Chief Justice of India to list the petitions seeking the larger bench reference of the 'Vijay Madanlal Choudhary' judgment (which upheld the provisions of the Prevention of Money Laundering Act) along with the review petitions against the said judgment, which are scheduled to be heard on August 6.Solicitor General of India Tushar...
Supreme Court Asks Ex-Chhattisgarh CM Bhupesh Baghel, Son To Approach High Court For Interim Reliefs In Liquor 'Scam' & Other Cases
The Supreme Court on Monday (August 4) asked former Chhattisgarh Chief Minister Bhupesh Baghel and his son Chaitanya Baghel to approach the Chhattisgarh High Court for interim reliefs in the Coal 'scam' cases, Liquor 'scam' cases, Mahadev betting app cases, Rice milling cases and DMF 'scam' cases lodged by the Enforcement Directorate, CBI and State Police.Briefly put, Chaitanya Baghel (who...
Supreme Court To First Hear ED's Objections To Maintainability Of Review Petitions Against Judgment Upholding PMLA Provisions
The Supreme Court on Thursday (July 3) observed that it will first hear the issue of maintainability of the review petitions filed against the Vijay Madanlal Choudhary judgement, which upheld various provisions of the Prevention of Money Laundering Act (PMLA), before going into other issues raised by the petitioners.Clarifying the above, a bench of Justices Surya Kant, Ujjal Bhuyan and N...
Supreme Court Stays PMLA Trial In Case Where Chargesheet In Predicate Offence Not Filed For 7 Yrs
The Supreme Court recently stayed trial against 4 accused in a case under the Prevention of Money Laundering Act where chargesheet had not been filed in the predicate offense since 7 years. A bench of Justices Vikram Nath and Sandeep Mehta passed the order after hearing Senior Advocate PB Suresh (on behalf of the petitioners), who argued that the petitioners were not named in the...
Asset Replacement Under PMLA - M3M Builder Landmark Verdict
Prevention of Money Laundering Act, 2002 (“PMLA”) has been a law of fierce enforcement, known for its severity, rigor and stringency has been recently interpreted for an attachment of property case of Joint Director & Anr. v. Eastern Institute for Integrated Learning in Management University & Anr., by the Supreme Court, which raises eyebrows and leaves a few questions to ponder upon.The Enforcement Directorate (“ED”) provisionally attached high-value assets of M3M in a money laundering...
'When Pre-Cognizance Hearing U/S 223(1) BNSS Is Not Conducted, Further Proceedings Are A Nullity In Law': Calcutta High Court
The Calcutta High Court has set aside an order taking cognizance of proceedings initiated under the Prevention of Money Laundering (PMLA) Act, upon observing that cognizance had been taken by the special court, without complying with the mandatory requirement of holding a pre-cognizance hearing under Section 223(1) of the Bharatiya Nagarik Suraksha Sanhita (BNSS).Justice Sabyasachi...
Whether Discharge In Predicate Offence Automatically Invalidates PMLA Proceedings? Supreme Court To Consider
The Supreme Court is set to consider the issue as to whether discharge in the predicate/scheduled offence would automatically invalidate proceedings initiated under the Prevention of Money Laundering Act.A bench of Justices Surya Kant and Joymalya Bagchi is dealing with the challenge to a Jammu and Kashmir and Ladakh High Court order, which held that discharge in the predicate offence does...
SC's Vijay Madanlal Judgment Doesn't Exempt Foreign Recipients Of Proceeds Of Crime From Scrutiny On Mere Contractual Legitimacy Of Transaction: Delhi HC
The Delhi High Court has made it clear that foreign recipients of proceeds of crime are not exempted from scrutiny under the Prevention of Money Laundering Act, 2002, on a mere ground of 'contractual legitimacy' of transactions.Justice Ravinder Dudeja thus rejected the plea of one Amrit Pal Singh, a resident of Hong Kong for the past 17 years, being probed by the Enforcement Directorate.As...