No Prosecution of Chartered Accountant for Issuing Form 15CB Certificates Without Knowledge of Forgery
The Hon’ble Supreme Court in the case of The Deputy Director upheld the judgment by the Hon’ble Madras High Court in the case of Murali Krishna Chakrala which held that the Petitioner, a Chartered Accountant, who issued Form 15CB certificates to client entities without knowledge of forged documents or fraudulent intent, is not a conspirator and is discharged from prosecution under the Prevention of Money Laundering Act, 2002 (“PMLA”). The Court allowed his discharge while giving liberty to the prosecution to examine him as a witness.