Prior sanction required for prosecution of public servants under PMLA: SC, ET LegalWorld
The Supreme Court on Wednesday said a prior sanction will precede the prosecution of public servants accused of money laundering charges in discharge of official duty. A bench of Justices Abhay S Oka and Augustine George Masih, therefore, dismissed a plea of the Enforcement Directorate (ED) challenging a high court verdict that quashed the cognisance […]
PMLA can’t be allowed to detain accused for unreasonably long period: Delhi HC, ET LegalWorld
The Delhi High Court has said that the stringent provisions of Prevention of Money Laundering Act (PMLA) cannot be allowed to detain accused persons for an unreasonably long period. It said that when “the trial is not likely to conclude in a reasonable time, Section 45 (of PMLA) cannot be allowed to become a shackle […]
SC directs Special Court PMLA not to pass judgment until framing of charges in CBI offence, ET LegalWorld
The Supreme Court has directed a Special Court under the Prevention of Money Laundering Act (PMLA) not to pass the judgement until charges are framed in a related Central Bureau of Investigation (CBI) case. The Bench of Justice Bela M Trivedi and Justice Satish Chandra Sharma on Tuesday directed the Trial Court conducting the PMLA […]
FIU fines Union Bank with Rs 54 Lac for PMLA violations, ET LegalWorld
The Financial Intelligence Unit (FIU) has imposed a penalty of Rs 54 lakh on Union Bank of India for violating provisions of the Prevention of Money Laundering Act (PMLA). In a statement, FIU disclosed that an independent examination of certain current accounts at Union Bank of India’s Hill Road Branch, Mumbai, revealed substantial circular fund […]
SC hearing on PMLA review pleas deferred again to Oct 16, Legal News, ET LegalWorld
Supreme Court has rescheduled the hearing on a plea seeking review of its 2022 verdict on the validity of various provisions of Prevention of Money Laundering Act, which gives Enforcement Directorate wide-ranging powers to summon and arrest people, and now fixed it to Oct 16. A bench of Justices Surya Kant, C T Ravikumar and […]
SC defers to Oct 3 hearing on pleas seeking reconsideration of 2022 PMLA verdict, ET LegalWorld
The Supreme Court on Wednesday deferred to October 3 the hearing on a question whether its 2022 verdict upholding the Enforcement Directorate’s powers to arrest and attach property under the Prevention of Money Laundering Act required any reconsideration. Solicitor General Tushar Mehta, appearing for the Enforcement Directorate (ED), mentioned the matter before a bench headed […]
Bail is the rule and jail is exception to PMLA; twin condition subject to Article 21, say experts, ET LegalWorld
Recently, the Supreme Court has held the applicable of the general principle of law that ‘bail is rule and jail is exception’ even to money laundering cases under the Prevention of Money Laundering Act (PMLA). The court noted that statutory provisions should align themselves to the said higher constitutional edict. “From the judgments in cases […]