No Moratorium Cover for Tainted Assets: NCLAT on the Limits of ED's Power Under PMLA

No Moratorium Cover for Tainted Assets: NCLAT on the Limits of ED’s Power Under PMLA

Anti-Money Laundering & Financial Crimes

Introduction The National Company Law Appellate Tribunal (NCLAT) has delivered a clear verdict on the interplay between insolvency law and anti-money laundering enforcement. In the case Value Wise Consultancy Private Limited v. Deputy Director, Directorate of Enforcement & Ors. (Company Appeal (AT) (Ins) Nos. 1226 & 1227 of 2022), the Tribunal ruled on a question […]

No Moratorium Cover for Tainted Assets: NCLAT on the Limits of ED’s Power Under PMLA Read More »

PMLA Cannot Be Invoked Solely On The Basis Of Unexplained Assets, Holds Allahabad High Court

PMLA Cannot Be Invoked Solely On The Basis Of Unexplained Assets, Holds Allahabad HC

Anti-Money Laundering & Financial Crimes

The Allahabad High Court, in the case of Sanjay Kumar @ Sanjay Dhiman v. Directorate of Enforcement, Criminal Misc. Bail Application No. 38900 of 2025, delivered a significant ruling under the Prevention of Money Laundering Act, 2002 (“PMLA”), reiterating a legal principle which asserts that assets derived from unknown or unexplained sources cannot, merely on

PMLA Cannot Be Invoked Solely On The Basis Of Unexplained Assets, Holds Allahabad HC Read More »

Mere Reproduction of Statutory Language Does Not Constitute “Reason to Believe” Under PMLA; Writ Maintainable Despite Alternate Remedy Karnataka High Court

Mere Reproduction of Statutory Language Does Not Constitute “Reason to Believe” Under PMLA: Karnataka HC

Anti-Money Laundering & Financial Crimes, Legal Updates & News

In Jayamma v. Directorate of Enforcement, 2026:KHC:25829, the Karnataka High Court set aside a provisional attachment order issued under Section 5(1) of the Prevention of Money Laundering Act, 2002 (“PMLA”), holding that mere reproduction of the statutory language contained in the Second Proviso to Section 5(1) cannot substitute the mandatory requirement of recording an independent

Mere Reproduction of Statutory Language Does Not Constitute “Reason to Believe” Under PMLA: Karnataka HC Read More »

Key Provisions of the Prevention of Money Laundering Act, 2002 (PMLA)

Key Provisions of the Prevention of Money Laundering Act, 2002 (PMLA)

Anti-Money Laundering & Financial Crimes

The Prevention of Money Laundering Act (PMLA), 2002 is a crucial legislative framework in India aimed at combating money laundering and preventing the misuse of financial systems for illicit activities. Enacted to curb the generation and circulation of black money, PMLA is instrumental in ensuring financial transparency and regulatory compliance in the economy. The primary

Key Provisions of the Prevention of Money Laundering Act, 2002 (PMLA) Read More »

Attachment Of Property Under The Prohibition Of Benami Property Transactions Act, 1988

Attachment Of Property Under The Prohibition Of Benami Property Transactions Act, 1988

Anti-Money Laundering & Financial Crimes

The Prohibition of Benami Property Transactions Act, 1988, allows the Initiating Officer, after legal processes and with approval, to temporarily attach properties believed to be benami for up to 90 days. The Act defines the roles of ‘benamidar’ and ‘beneficial owner,’ crucial for identifying transactions aimed at benefiting someone other than the property holder. The Supreme Court provides guidelines to determine if a transaction is benami, emphasizing the intentions behind the purchase money. Provisional attachment is an initial measure in a broader legal procedure towards adjudication.

Attachment Of Property Under The Prohibition Of Benami Property Transactions Act, 1988 Read More »

Validity of Section 45 of the PMLA: Effect of Pendency of SLP in the Supreme Court of India

Validity of Section 45 of the PMLA: Effect of Pendency of SLP in the Supreme Court of India

Anti-Money Laundering & Financial Crimes

In this case of Madanlal Manekchand Jain Vs.  State of Gujarat and Ors. [Criminal Misc. Application (For Regular Bail) No. 22552 of 2015], the validity of Section 45 of the PML Act, 2002 was questioned before the High Court of Gujarat. The applicant contended that as a special leave petition is pending before the Supreme

Validity of Section 45 of the PMLA: Effect of Pendency of SLP in the Supreme Court of India Read More »

Significance of Issuing Notice in Benami Property Transactions

Significance of Issuing Notice in Benami Property Transactions

Anti-Money Laundering & Financial Crimes

Right to property may not be included in the fundamental rights under the Constitution of India, however, it still remains a valuable constitutional right under Article 300-A of the Constitution of India which provides that no person shall be deprived of his property save by authority of law. Even the Supreme Court of India has

Significance of Issuing Notice in Benami Property Transactions Read More »

Prospective Nature of the Benami Transactions (Prohibition) Act, 1988

Prospective Nature of the Benami Transactions (Prohibition) Act, 1988

Anti-Money Laundering & Financial Crimes

What is Benami and what is the purpose of the Benami Transactions (Prohibitions) Act, 1988? “Benami” is a Hindi word meaning “without name” or “nameless”. Webster’s dictionary defines the term, “Benami” to mean : made, held, done, or transacted in the name of (another person). The Benami Transactions (Prohibitions) Act, 1988 (herein referred to as

Prospective Nature of the Benami Transactions (Prohibition) Act, 1988 Read More »

Subscribe
Subscribe
Scroll to Top