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Pmla

Constitutional courts can't allow PMLA provisions to become ED's tools: SC

The Supreme Court on Thursday said constitutional courts cannot allow provisions of Prevention of Money Laundering Act to become instruments in the hands of the Enforcement Directorate to continue incarceration for a long time. The top court said when the trial of the complaint under PMLA is likely to prolong beyond reasonable limits, the constitutional courts will have to consider exercising their powers to grant bail. "The reason is that section 45(1)(ii) (of PMLA) does not confer power on the State to detain an accused for an unreasonably long time, especially when there is no possibility of trial concluding within a reasonable time. "What a reasonable time is will depend on the provisions under which the accused is being tried and other factors. One of the most relevant factors is the duration of the minimum and maximum sentence for the offence," a bench of Justices Abhay S Oka and Augustine George Masih said. The observations of the apex court came while granting bail to forme

Constitutional courts can't allow PMLA provisions to become ED's tools: SC
Updated On : 26 Sep 2024 | 6:01 PM IST

India to adopt nuanced approach to deal with at risk NPOs after FATF report

India on Thursday said it will adopt a "nuanced" approach to deal with "at risk" non-profit organisations (NPOs), an issue raised by the global crime watchdog FATF in its report which has otherwise appreciated India for its efforts to tackle terror financing and money laundering. Additional Secretary (Revenue), Finance Ministry, Vivek Agarwal said India has excelled on 6 'immediate outcomes' of the Financial Action Task Force (FATF), including in risk, policy and coordination, international cooperation, financial intelligence, confiscation and proliferation financing. On the five other parameters, including abuse of NPOs and terror financing sanctions, as well as prosecution of money laundering and terror financing cases India has got a medium rating. As regards the abuse of NPOs for terror financing, Agarwal said the scope for NPOs being misused is very less in India because there is a cap on cash donations. "We were trying to make a case that regulatory framework is good enough..

India to adopt nuanced approach to deal with at risk NPOs after FATF report
Updated On : 19 Sep 2024 | 11:12 PM IST

FATF praises India's PMLA, terror financing; asks to improve prosecution

Global anti-money laundering and terror financing body FATF on Thursday launched its much-awaited mutual evaluation report on India, saying the county's systems were "effective" but "major improvements" were required to strengthen prosecution in these cases. The 368-page report was released after the assessment was adopted by the Paris-headquartered body at its June plenary meeting. The last such review of India's combating of money laundering and terror financing regime was published in 2010. The report, which comes after an on-site visit of FATF experts to India last November, has placed the country in the "regular follow up" category, a distinction shared by only four other G20 countries. India will undergo its next evaluation in 2031. The report said India implemented such an anti-money laundering (AML) and combating financing of terror (CFT) system that was effective in many respects. It, however, said "major improvements" were required to strengthen the prosecution in money

FATF praises India's PMLA, terror financing; asks to improve prosecution
Updated On : 19 Sep 2024 | 5:37 PM IST

ED to prioritise asset restoration for victims; Rs 16,400 cr recovered

In addition to expediting the completion of investigations, the Enforcement Directorate will now prioritise restitution of assets

ED to prioritise asset restoration for victims; Rs 16,400 cr recovered
Updated On : 09 Sep 2024 | 3:39 PM IST

SC defers hearing review petition challenging PMLA provisions till Sep 18

A bench of justices Surya Kant and Ujjal Bhuyan adjourned the matter for September 18. The matter was adjourned as one of the judges of the three-judge bench was not sitting today

SC defers hearing review petition challenging PMLA provisions till Sep 18
Updated On : 04 Sep 2024 | 6:26 PM IST

SC defers hearing review petition challenging PMLA provisions to Sept 18

The court was hearing the review petition challenging of top court's judgement upholding the provision of PMLA

SC defers hearing review petition challenging PMLA provisions to Sept 18
Updated On : 04 Sep 2024 | 3:58 PM IST

How SC rulings are redefining arrest and bail procedures in PMLA cases

The top court has upheld the stringent provisions of the Prevention of Money Laundering Act (PMLA) while emphasising the need for careful judicial scrutiny to protect the rights of those accused

How SC rulings are redefining arrest and bail procedures in PMLA cases
Updated On : 02 Sep 2024 | 11:20 AM IST

Bail is the rule, jail is exception, even under special laws like PMLA: SC

The Supreme Court reaffirmed that bail should be the norm even under stringent laws like the PMLA and UAPA, stressing that individual liberty remains paramount

Bail is the rule, jail is exception, even under special laws like PMLA: SC
Updated On : 28 Aug 2024 | 12:28 PM IST

ED files money laundering case to probe irregularities in R G Kar Hospital

The Enforcement Directorate has filed a money laundering case to probe alleged financial irregularities at the RG Kar Medical College and Hospital during the tenure of its former principal Sandip Ghosh and some others, official sources said Tuesday. The federal agency has taken cognisance of a CBI FIR to file its Enforcement Case Information Report (ECIR), equivalent to an FIR, under various sections of the Prevention of Money Laundering Act (PMLA). The agency, according to the sources, has gathered banking and medical procurement documents related to this hospital and medical college from "various sources" and it may soon issue summons to the accused for questioning and recording of their statements, the sources said. The accused in the ED case are the same who have been named in the CBI complaint, they said. In its FIR registered on the directions of the Calcutta High Court, the CBI has booked Ghosh and three Kolkata-based private entities -- Ma Tara Traders of Madhya Jhorehat, .

ED files money laundering case to probe irregularities in R G Kar Hospital
Updated On : 27 Aug 2024 | 11:29 PM IST

Excise Policy case: HC extends interim bail of Amit Arora till Aug 30

Arora had filed a regular bail application seeking relief under the provison to Section 45 of the PMLA as his bail is set to expire on August 21

Excise Policy case: HC extends interim bail of Amit Arora till Aug 30
Updated On : 21 Aug 2024 | 2:58 PM IST

ED arrests Amtek's Arvind Dham in Rs 25,000 crore bank 'fraud' case

The move follows searches conducted by the agency last month at around 35 locations in Delhi-NCR, Mumbai, and Nagpur as part of its money laundering probe

ED arrests Amtek's Arvind Dham in Rs 25,000 crore bank 'fraud' case
Updated On : 11 Jul 2024 | 11:09 PM IST

ED questions TV actors in 'unauthorised' fraud forex trading app case

The Enforcement Directorate on Wednesday recorded the statement of two television actors here as part of a money laundering investigation linked to the operations of an "illegal" online forex trading platform that is alleged to have duped investors to the tune of Rs 500 crore, official sources said. The sources said actors Krystel Dsouza and Karan Wahi were called for questioning in order to elicit information about some payments being made for promotions of the app named OctaFx which also had a website -- www.octafx.com. The statements of the two have been recorded as the ED is investigating this case under the provisions of the Prevention of Money Laundering Act (PMLA), they said. Another TV actor and model Nia Sharma has also been summoned, the sources said. It is understood that the agency wants to understand the operations of the platform and these actors may not be seen as wrongdoers or accused. The money laundering case of the ED stems from a Pune Police (Shivaji Nagar poli

ED questions TV actors in 'unauthorised' fraud forex trading app case
Updated On : 04 Jul 2024 | 12:28 AM IST

Court reserves order on cognisance of ED charge sheet against Kejriwal

A Delhi court on Tuesday reserved for June 4 its order on whether to take cognisance of a supplementary charge sheet filed by the ED against Chief Minister Arvind Kejriwal in the money laundering case linked to the alleged excise scam wherein it has claimed bribes were received even from Punjab businessmen to allow them to invest in liquor trade in the national capital. The Enforcement Directorate (ED) has claimed those businessmen from Punjab, also ruled by the Aam Aadmi Party (AAP), who did not pay up, were forced out of their ventures in the neighbouring state. Special Judge Kaveri Baweja reserved the order after hearing the arguments advanced by the ED, which claimed it has sufficient evidence to prosecute Kejriwal in the case. The ED has also named AAP as an accused in the charge sheet, the first political party to be booked under the Prevention of Money Laundering Act (PMLA). The federal anti-money laundering agency told the court that Kejriwal, the national convenor of AAP,

Court reserves order on cognisance of ED charge sheet against Kejriwal
Updated On : 28 May 2024 | 7:47 PM IST

Court extends ED remand of Jharkhand minister Alamgir Alam for 3 more days

A special PMLA court in Ranchi on Monday extended Jharkhand minister Alamgir Alam's remand with the Enforcement Directorate (ED) for three more days in connection with an alleged money laundering case, his legal representatives said. Alam had been taken into custody by the ED on May 15 following two days of interrogation at the agency's office. Initially remanded for six days by the PMLA (Prevention of Money Laundering Act) court starting May 17, his remand was subsequently extended for five days on May 22. Alam's lawyer, Kishlay Prasad, said that the ED prayed for a three-day extension of remand for further inquiry, which was granted by the court. "The ED indicated the necessity for additional inquiries and the requirement for details regarding immovable properties," Prasad elaborated. Alam, who serves as the state parliamentary affairs minister and represents the Pakur seat in the Jharkhand Assembly, is under investigation for alleged irregularities and bribery in the state rural

Court extends ED remand of Jharkhand minister Alamgir Alam for 3 more days
Updated On : 27 May 2024 | 2:50 PM IST

ED arrests J'khand minister's secy, latter's domestic help after cash haul

The Enforcement Directorate on Tuesday arrested Jharkhand minister Alamgir Alam's personal secretary Sanjiv Lal and the latter's domestic help following a recovery of over Rs 32 crore cash from them, official sources said. The duo have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA) following their overnight questioning, the sources said. The ED on Monday had raided a 2BHK flat in the city that is allegedly occupied by Lal's domestic help Jehangir, as part of a money laundering investigation into alleged irregularities in the state rural development department, they said. It had recovered over Rs 32 crore cash apart from Rs 3 crore from some other premises that were searched by the central agency. The total cash recovery stands at Rs 35.23 crore, the sources said. Jharkhand rural development minister and Congress leader Alam had denied any wrongdoing on his part.

ED arrests J'khand minister's secy, latter's domestic help after cash haul
Updated On : 07 May 2024 | 10:49 AM IST

FIU notifies fresh terror financing reporting alerts for capital markets

A fresh set of 'alert indicators' have been issued by India's financial intelligence unit (FIU) for capital markets, insurance companies, online payment gateway intermediaries and crypto currency service providers for effective checking of suspicious transactions in their channels as part of the anti-money laundering and counter-terrorism financing regime. These new guidelines have been issued under the provisions of the Prevention of Money Laundering Act (PMLA) during the 2022-23 financial year and published in a recently released report that has been accessed by PTI. This is part of the anti-money laundering (AML) and combating the financing of terrorism (CFT) regime followed by the country as part of which financial institutions and intermediaries are mandated to share suspicious transaction reports (STRs) with the FIU which subsequently analyses them and shares them for action with various investigative and intelligence agencies. FIU proactively engages with the financial sector

FIU notifies fresh terror financing reporting alerts for capital markets
Updated On : 28 Apr 2024 | 2:13 PM IST

PMLA court grants one more week to ED for reply on Hemant Soren's bail plea

A special PMLA court on Tuesday granted one more week to the Enforcement Directorate to reply to the bail petition of former Jharkhand chief minister Hemant Soren. The court also fixed May 1 as the next date of hearing in the matter. Soren was arrested by the ED on January 31 in connection with a money laundering case linked to an alleged land scam. He is at present in judicial custody and lodged at the Birsa Munda Central Jail in Ranchi. The ED had sought another two weeks to file a reply to Soren's bail petition, which was opposed by the former CM's cousels, who claimed that the probe agency wanted to deliberately delay the bail so that he could not come out of jail and campaign. Soren was represented virtually by senior lawyers Kapil Sibal and Arunabh Chowdhury. The PMLA court granted only one week to the ED and directed no further adjournments. Soren had on April 16 moved a bail petition before the special court, alleging that his arrest by the ED was politically motivated, a

PMLA court grants one more week to ED for reply on Hemant Soren's bail plea
Updated On : 23 Apr 2024 | 7:14 PM IST

PMLA Authority upholds ED's 2023 attachment of assets of National Herald

The authority said in its order that it believes that the movable assets and equity shares that were attached by the ED are proceeds of crime and linked to the offence of money laundering

PMLA Authority upholds ED's 2023 attachment of assets of National Herald
Updated On : 10 Apr 2024 | 10:47 PM IST

Kavitha's nephew involved in transfer of illicit funds in liquor scam: ED

In what could further mount trouble for former Telangana chief minister K Chandrashekar Rao's family, the Enforcement Directorate on Saturday alleged that a nephew of BRS leader K Kavitha was "involved" in the transfer of illicit funds or the proceeds of crime in the Delhi excise policy-linked money laundering case. The central agency informed the special Prevention of Money Laundering Act (PMLA) court of Judge Kaweri Baweja in Delhi that it conducted searches at the premises of the said relative, Meka Sri Saran, on Saturday after his role in this case came to the fore during the questioning of Kavitha over the last week. Kavitha, the 46-year-old MLC daughter of former Telangana chief minister K Chandrashekhar Rao, was arrested by the ED on March 15 and she was produced before the court for extension of her custody on Saturday. The court sent her to agency's custody till March 26. The politician told reporters during her production in court that "this was a fraud and wrong case...we

Kavitha's nephew involved in transfer of illicit funds in liquor scam: ED
Updated On : 23 Mar 2024 | 5:05 PM IST

Paytm PB failed to use mechanism for detecting suspicious transactions: FIU

Paytm Payments Bank failed to put in place an internal mechanism to "detect and report" suspicious transactions as stipulated under the anti-money laundering law and was unsuccessful in conducting due diligence of its payout service, the FIU said in its order that imposed a fine of Rs 5.49 crore on the digital entity. The federal financial intelligence gathering and dissemination agency said in its March 1 order that these charges against the bank, a registered reporting entity with the FIU under the PMLA, were "substantiated" after more than four years of investigation and a show cause notice that was issued against it on February 14, 2022. After the Union finance ministry issued a press statement on the FIU action, a Paytm Payments Bank spokesperson had said that the penalty pertains to issues within a business segment that was discontinued two years ago. "Following that period, we have enhanced our monitoring systems and reporting mechanisms to the Financial Intelligence Unit ...

Paytm PB failed to use mechanism for detecting suspicious transactions: FIU
Updated On : 05 Mar 2024 | 11:11 PM IST
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