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Money Laundering - Case Laws

Showing 1 to 20 of 187 Records

  • 2017 (12) TMI 289 - DELHI HIGH COURT

    Moin Akhtar Qureshi Versus Union of India & Ors.

    Prevention of Money Laundering - judicial custody - writ of habeas corpus - Held that - The reason for the petitioner not pressing his bail application before the learned Special Judge was that on 13.09.2017, in the present proceedings the petitioner had made a statement through counsel that he shall not press his application for regular bail before the Competent Court till the next date of hearing, which got extended from 09.10.2017 to 16.10.201....... + More


  • 2017 (12) TMI 98 - ATPMLA

    Shri Gadi Nagavekata Satyanarayana, G. Ashwini Raja, N. Rajkumar Versus The Deputy Director Directorate of Enforcement, Hyderabad

    Offence under PMLA - provisional attachment order - Held that - On the similar issue another judgement has been delivered in the matter of Shri Ajay Kumar Gupta Vs. Adjudicating Authority (PMLA) 2017 (8) TMI 135 - MADRAS HIGH COURT . In the present case that the Hon ble High Court has dealt with the issue of retrospective effect, the said judgment has binding effect upon us. This Tribunal cannot take the different view as the judgment has been pa....... + More


  • 2017 (12) TMI 97 - ATPMLA

    Ajay Kumar Gupta Versus The Joint Director Directorate of Enforcement, Chennai

    Offence under PMLA - provisional attachment orders - final order by the Madras High Court was reserved on 13.06.2017 and the same was rendered on 13.07.2017, whereby the provisional attachment order 09/2017 dated 07.04.2017 was quashed - Held that - We are of the view that it is a serious matter that once the Adjudicating Authority as well as the Deputy Director, Directorate of Enforcement were party before the Writ Petition where the quashing or....... + More


  • 2017 (11) TMI 1499 - ATPMLA

    Bajaj Finance Ltd. Versus The Joint Director Directorate of Enforcement, Lucknow

    PMLA proceedings against banks - bonafide conduct of banks - attached property was purchased much prior to the period when the facility of offending loans were sanctioned to the borrowers - Held that - As decided in State Bank of India and Ors. Vs. The Joint Director, Directorate of Enforcement, Kolkata 2017 (8) TMI 754 - ATPMLA at somewhat similar situation held that in the conduct of the banks are always bonafide. Both banks are innocent partie....... + More


  • 2017 (11) TMI 1336 - SUPREME COURT OF INDIA

    Nikesh Tarachand Shah Versus Union of India And Anr.

    Constitutional validity of Section 45 of the Prevention of Money Laundering Act, 2002 - two conditions for grant of bail where an offence punishable for a term of imprisonment of more than 3 years under Part A of the Schedule to the Act is involved that the Public Prosecutor must be given an opportunity to oppose any application for release on bail and the Court must be satisfied, where the Public Prosecutor opposes the application, that there ar....... + More


  • 2017 (11) TMI 942 - PUNJAB & HARYANA HIGH COURT

    Satish Estate Pvt. Ltd. Versus Union of India

    Offence under PMLA Act - attachment of fixed deposit of the HDFC Bank - Held that - We are inclined to exercise our jurisdiction under Article 226. The respondents adopted proceedings against the Director instead of doing so against the petitioner company. The petitioner s Director fairly deposited the amount of Rs. 25 lacs with the respondents. The proceedings were initiated by the respondents against the Director and not against the company. Th....... + More


  • 2017 (11) TMI 838 - ATPMLA

    Aditya Birla Finance Ltd. Versus The Deputy Director Directorate of Enforcement, Kolkata

    Provisional attachment - Recovery of loan amount against the three-mortgaged properties - Appellant undertakes that after recovering the EMI due, from the attached Escrow accounts, the Appellant shall release the necessary amounts due, towards the amenities charges to its borrowers - Held that - As submitted that the appellants in the said appeals are not able to deposit service tax for the period April-September, 2016-17 for which it has receive....... + More


  • 2017 (11) TMI 779 - SUPREME COURT

    Rohit Tandon Versus The Enforcement Directorate

    Bail application - offence u/Sections 3 & 4 of the Prevention of Money Laundering Act, 2002 - mmunity to the appellant from prosecution for an offence of money laundering - nature of offence - Held that - The fact that no limit for deposit was specified, would not extricate the appellant from explaining the source from where such huge amount has been acquired, possessed or used by him. The volume of demonetized currency recovered from the off....... + More


  • 2017 (10) TMI 1128 - ATPMLA

    Axis Bank Versus The Deputy Director Directorate of Enforcement, Delhi

    Appeal under section 26 of Prevention of Money Laundering Act, 2002 - Provisional Attachment - Held that - The Adjudicating Authority (PMLA), while passing the Impugned Order, did not consider the judicial precedents cited by the appellant on the above propositions of law asserting the supremacy and priority of the charge/rights of the appellants (being Secured inconsistency between the two, before giving an overriding effect to the non obstante ....... + More


  • 2017 (10) TMI 980 - KARNATAKA HIGH COURT

    Devas Multimedia Private Limited Versus The Joint Director, Directorate of Enforcement, The Deputy Director Directorate of Enforcement, The Adjudicating Authority (PMLA) , The Assistant Director Directorate Of Enforcement

    Provisional attachment - offence under PML Act - Held that - In the instant case, as the adjudication process has not yet started and the matter is at the stage of show-cause notice and provisional attachment, it is not proper for this Court to express any opinion on this aspect of the matter. It is also evident from the show-cause notice that allegations of money-laundering are made in respect of transactions spanning over a period of time, even....... + More


  • 2017 (10) TMI 907 - ATPMLA

    SS Earth Movers Versus The Joint Director Directorate of Enforcement, Bhubaneswar

    Offense under PMLA Act - Not following the statutory requirements - authorisation for search and seizure - Held that - The authorisation for search and seizure was wholly illegal as it did not authorize a specific officer and specific premises to be searched as mandated under Section 17(1) of the PMLA read with Rule 3(1). Additionally, it was not even in the form prescribed in Rule 3(1)/Form I. Even, there was no communication of reason to believ....... + More


  • 2017 (10) TMI 567 - ATPMLA

    Siddhi Vinayak Logistic Ltd. Versus The Deputy Director Directorate of Enforcement, Mumbai

    Insolvency and Bankruptcy procedure - provisional attachment order - maintainability of petition - Held that - The provisional attachment order not be interfered with by this Tribunal as validity of the provisional attachment order is to be determined by the Adjudicating Authority, who has the competent jurisdiction to decide the issue. Accordingly the appeal is not maintainable before this Tribunal - We are of the view that the above submission ....... + More


  • 2017 (10) TMI 146 - ATPMLA

    Sh. R.V.S. Minhas Versus The Joint Director Directorate of Enforcement, Mumbai

    Contravention of provisions of Section 8(3) & 8(4), 73 read with Section 68 of the Foreign Exchange Regulation Act, 1973 - Held that - When the matter is taken up today for hearing, the stand of the respondent remains the same that the record is not traceable and counsel requested for an adjournment. The request is opposed by the counsel for the appellant in view of the directions passed by the High Court. He has suggested that without prejud....... + More


  • 2017 (10) TMI 32 - ATPMLA

    Smt. Nasreen Taj, Shri Asadulla Khan Versus The Deputy Director Directorate of Enforcement, Bangalore, The Manager, Syndicate Bank

    Provisional attachment - offence under PMLA Act - whether grant of loan itself by the Bank cannot be termed criminal activity in respect of a scheduled offence? - Held that - In the present cases, it is clear that in order to treat the loan proceeds obtained by the borrower from the Syndicate Bank as the proceeds of crime, as done by the ED and the Adjudicating Authority is not correct. The said money is not illicit or tainted money, nor is the B....... + More


  • 2017 (9) TMI 1606 - TELANGANA AND ANDHRA PRADESH HIGH COURT

    G.N.V. SATYANARAYANA, HYD AND 2 OTRS. Versus THE JOINT DIRECTOR, ENFORCEMENT DIRECTOR, HYD.,

    Offence under Sections 3 and 4 of the Prevention of Money Laundering Act, 2002 - Held that - The illegal activities committed by the persons in the helm of affairs cannot be attributed to the petitioner company, more particularly the allegation of forgery as all those illegalities were committed by them behind the back and without the involvement of the petitioner company. Thus, if the allegations made are taken at their face value and accepted i....... + More


  • 2017 (9) TMI 1446 - ATPMLA

    State Bank of India Versus The Deputy Director Directorate of Enforcement, Lucknow & Others

    Offence under PMLA Act - provisional attachment orders - legal owner of property - vehicle was hypothecated to the Appellant Bank and that the Appellant/SBI had prior charge over the subject matter/said vehicle and the Ld. Adjudicating Authority confirmed the provisional attachment order - superiority of SARFAESI Act - overriding effect of the two Acts i.e. SARFAESI Act, 2002 and the PMLA Act, 2002 - Held that - Admittedly, neither the bank is th....... + More


  • 2017 (9) TMI 1358 - BOMBAY HIGH COURT

    Anil Babulal Chokhara Versus Directorate of Enforcement, Mumbai & Anr.

    Application for bail - offence under PMLA act - Held that - Rigors of Section 21(4) of MCOC Act as under consideration which is pari materia with Section 45(1) of PML Act, and considering the facts of the present case and the observations made hereinabove grounds for grant of bail are made out. The reasonable satisfaction contemplated under Section 45(1) has to be construed on the basis of aforesaid principles. - The observations herein are restr....... + More


  • 2017 (9) TMI 1268 - DELHI HIGH COURT

    Virendra Jain, Surendera Kumar Jain Versus Enforcement Directorate Delhi Zonal Office Zone II New Delhi

    Bail under Section 439 Cr.P.C. - offence under Sections 3 & 4 of PMLA - Held that - In the instant petitions the petitioners, i.e. (1) Virendra Jain and (2) Surendra Kumar Jain, are involved in illegal activities of money laundering by way of share subscription with the help of a skilled person Rajesh Aggarwal, Chartered Accountant and the petitioners succeeded in receiving proceeds of crime amounting to ₹ 1,11,96,000/-, which is a Sche....... + More


  • 2017 (9) TMI 1006 - ATPMLA

    PNB Housing Finance Ltd. ICICI Bank Limited, State Bank of Patiala Versus The Deputy Director Directorate of Enforcement, Jalandhar

    Complaint u/s 5(5) of the Prevention of Money Laundering Act - Provisional Attachment Order - overriding effect of SARFAESI Act, 2002 viz. a viz. the provisions of PMLA-2002 - Held that - Admittedly, neither the banks nor employees of these appellants are accused in any criminal proceedings nor any allegations against them that they are involved in the commission of alleged crime or generating proceeds of crime. The amounts of loan sanctioned are....... + More


  • 2017 (9) TMI 952 - DELHI HIGH COURT

    Mrs. Shivani Rajiv Saxena Versus Directorate of Enforcement & Anr.

    Prevention of Money Laundering Act, 2002 - grant of bail - Held that - In the present case, sufficient material has been placed on record to show, of course, prima facie, that petitioner is not a house wife. She is a highly qualified lady having completed Masters in Finance in the year 2002 from international university. She was actively involved in the affairs of the various companies by virtue of her holding responsible positions, inasmuch as, ....... + More


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