proceeds of crime
Outstanding from forex fluctuations are not ‘proceeds of crime’ under the PMLA Act: Telangana High Court quashes ED case against Sukesh Gupta, Director of MBS Jewellers
The Telangana High Court quashed ED case against Sukesh Gupta and opined that the differential amount of rupee dollar fluctuation could be termed as an outstanding which could be recovered in a civil suit but could not be termed as ‘proceeds of crime’.
Provisional Attachment Order rests merely on an assumption of ED; Delhi High Court quashes Order passed by ED being arbitrary and illegal
The writ petitions raise an important question relating to the powers of the Enforcement Directorate (ED) to provisionally attach properties under Section 5 of the Prevention of Money Laundering Act, 2002 (PMLA) even though no proceedings relating to the predicate offense may have been initiated by the competent agency functioning under an independent statute and in terms of which the scheduled offense stands created.
Bombay Court grants bail to Sanjay Raut and Pravin Raut; Twin bail conditions u/S 45 PMLA satisfied
City Sessions Court, Mumbai: In a bail application filed by Pravin Raut (A3) and Sanjay Raut (A5) against arrest made
Supreme Court |Handing over cash to a public servant would be considered “proceeds of crime” under the Prevention of Money Laundering Act, 2002
Supreme Court: In a case wherein the appeal challenged the final judgment and order passed by the High Court of
Delhi High Court: Mere allocation of coal does not amount to ‘proceeds of crime’ u/S 2(1) (u) of PMLA, 2002; Proof of monetary gains wrongfully obtained from such allocation is mandatory
Delhi High Court: Yashwant Varma J. categorically held that an allocation of coal cannot possibly be viewed as amounting to ‘proceeds of
2G Spectrum Case: Special CBI Judge acquits all the accused in money laundering case too
Special CBI Court (2G Spectrum Cases): In the infamous 2G spectrum case, the Special Court of CBI has acquitted all 19 accused