Tag: PMLA

Digital Platforms and Dirty Money:  Addressing Financial Non-Regulation within Social Media Platforms

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-Tanya Sara George Introduction As per a 2024 FATF report, most domestic money laundering operations are conducted through open sources and social media networks. Initially designed as neutral forums for communication under Section 2(w) of the IT Act of 2000, these platforms have evolved into dual-purpose entities, facilitating not just digital interactions but financial transactions. … Continue reading Digital Platforms and Dirty Money:  Addressing Financial Non-Regulation within Social Media Platforms

Adnan Nisar v. Directorate of Enforcement: Highlighting the Cross-Border Implications of the PMLA

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~ By Akshat Patria The Delhi High Court recently, in the case of Adnan Nisar v. Directorate of Enforcement, passed a significant verdict expanding the scope of the Prevention of Money Laundering Act, 2002 (hereinafter referred to as the PMLA) to the offences committed outside India. The Hon’ble High Court has clearly held that an … Continue reading Adnan Nisar v. Directorate of Enforcement: Highlighting the Cross-Border Implications of the PMLA

Assessing Enforcement Directorate’s Powers in Combating Money Laundering: Legal Analysis and Recent Judicial Developments

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                                            -By Gurman Narula “Economic offences, need to be viewed seriously and considered as grave offences affecting the economy of the country and thereby posing serious threat to the financial health of the country”.  This article critically examines the Enforcement Directorate's (ED) exercise of authority under the Prevention of Money Laundering Act (PMLA), delving into … Continue reading Assessing Enforcement Directorate’s Powers in Combating Money Laundering: Legal Analysis and Recent Judicial Developments

Money Laundering and Predicate Offences – The Aftermath of Vijay Madanlal Chaudhary

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-Rushil Batra Introduction In 2022, the Supreme Court gave its much-awaited pronouncement in the case of Vijay Madanlal Chaudhary v Union of India on various aspects of the Prevention of Money Laundering Act, 2002 (PMLA)– inter alia the constitutionality of PMLA, conditions for bail, and the role of the Enforcement Case Information Report (ECIR). The … Continue reading Money Laundering and Predicate Offences – The Aftermath of Vijay Madanlal Chaudhary

Bail under PMLA: Comprehending the SC’s Imprimatur in Vijay Madanlal Choudhary vs UOI

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~By Devvrat Singh and Nishita Gupta Introduction  The Prevention of Money Laundering Act (hereinafter referred to as PMLA) was enacted in 2002 and since then it has undergone several amendments. The stated object of PMLA was to combat money-laundering activities and confiscate the properties involved in or connected to the act of money laundering. Several … Continue reading Bail under PMLA: Comprehending the SC’s Imprimatur in Vijay Madanlal Choudhary vs UOI

Of Old Wine in New Bottles – The Judgement in Vijay Madanlal Choudhary (Part One)

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~By Abhinav Sekhri After marathon hearings, the Supreme Court finally pronounced its judgment on 27.07.2022 in a batch of over 200 petitions where the legality of various provisions under the Prevention of Money Laundering Act, 2002 ["PMLA"] had been challenged. This judgment — bearing the title Vijay Madanlal Choudhary & Ors. v. Union of India & Ors. [SLP Crl No. 4364 … Continue reading Of Old Wine in New Bottles – The Judgement in Vijay Madanlal Choudhary (Part One)

Prakash Industries and Interpreting the PMLA

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~By Abhinav Sekhri The Delhi High Court has passed a detailed judgment in the matters of Hi-Tech Mercantile and Prakash Industries [Order dated 19.07.2022 in WP(C) No. 14999 of 2021 ("Prakash Industries"], touching on issues pertaining to the Prevention of Money Laundering Act 2002 [“PMLA”]. Holding in favour of the Petitioners and terminating the PMLA proceedings, the High Court … Continue reading Prakash Industries and Interpreting the PMLA

Attachment of Property, Freezing Orders, and PMLA Investigations: The Need for Reasonable Exclusions

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By Abhinav Sekhri In almost any prosecution, the property used to commit a crime becomes case property (a murder weapon). In some kinds of prosecutions, this extends to locking down the site of criminal acts (a brothel or a gaming house). There are also other prosecutions, such as those for money laundering, where a major focus is on identifying … Continue reading Attachment of Property, Freezing Orders, and PMLA Investigations: The Need for Reasonable Exclusions