Section 5 of the Prevention of Money Laundering Act, 2002 (‘Act’ for short) provides for the provisional attachment of properties of any person if it is satisfied that such person is in possession of proceeds of crime.
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.
Probing a massive racket that involved laundering black money out of the country, ED Saturday arrested Amit Agarwal, who has been allegedly found to have used shelf entities to send Rs. 697 crore to Hong Kong and Singapore under the guise of import of goods and services, which were neve received.
The Enforcement Directorate (ED) arrested a man on Wednesday for posing as an ED officer and an advisor and auditor…
The proposed move to levy goods and services tax (GST) on cryptocurrencies is set to be delayed as consensus on…
GST evasion of about Rs 23,000 crore by gaming companies between April 2019 and November 2022 is being investigated by…
The Hon’ble Madras High Court (“the High Court”) in the case of Murali Krishna Chakrala Vs. The Deputy Director, Directorate…
