Validity of imposition of “debit-freeze” of the bank accounts - ...

Debit-Freezes Invalid Without Proper Justification Under PMLA Sections 5 or 17, Order from November 6, 2020 Challenged.

March 27, 2021

Case Laws Money Laundering HC

Validity of imposition of “debit-freeze” of the bank accounts - PMLA - The sine qua non for exercise of the powers under either section 5 or section 17 of the Act is the formation of an opinion, by a competent officer, that the conditions set out in these sections are found to exist. In the absence of such a finding, the exercise of power under these Sections would be without basis and cannot survive in the absence of these requirements. There are no such reasons recorded in the order dated 6.11.2020. - HC

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Validity of imposition of “debit-freeze” of the bank accounts - ...

Debit-Freezes Invalid Without Proper Justification Under PMLA Sections 5 or 17, Order from November 6, 2020 Challenged.

March 27, 2021

Case Laws Money Laundering HC

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