#PMLA Court

[townpostin]

Former Minister Alamgir Alam Seeks Permission to Attend Assembly Session

Lawyer Files Petition in PMLA Court for Alamgir Alam’s Participation in Assembly Former minister Alamgir Alam has sought permission to attend the assembly session scheduled for Monday. RANCHI – Former minister Alamgir Alam has requested the court’s permission to participate in the upcoming assembly session on Monday. His lawyer has filed a petition in the PMLA court, which is set for hearing on…

[thetaxguyin]

ED Provisions: Immovable Properties Worth ₹43.84 Crore Attached in PMLA Cas

The Enforcement Directorate (ED) in Mumbai recently made a significant announcement regarding the provisional attachment of immovable properties, including several floors of Hotel One Continent in Hyderabad. Valued at ₹43.84 crore, these properties have been provisionally attached under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with a loan fraud case…

[bmvistas2022]

Loan-ly !!!!

As on Jul 17, 2020.

Former liquor baron Vijay Mallya's attorney informed the Supreme Court on Thursday that he has offered the group of banks a comprehensive settlement package and that if it is accepted, all of the cases brought against him by the Enforcement Directorate will be resolved. This comes after Mallya's legal options to prevent his extradition to India have been exhausted.

Sources claim that Mallya filed a petition with the SC last month offering a settlement package of Rs 13,960 crores for full and final payment of the principal defaulted amount in excess of Rs 9,000 crore, even though the counsel did not specifically mention the settlement amount before a bench presided over by Chief Justice S A Bobde.

This is the greatest offer Mallya has ever offered to resolve the conflict with the group of banks and end the PMLA-registered instances of money laundering.This is only one of the numerous carrots Mallya occasionally hung at the end of a stick. Let him make a deposit before traveling to India "He hinted that Mallya would be extradited to India shortly in what he stated. Mallya reportedly requested asylum in the UK after losing his fight to avoid extradition in several local courts.

In 2016, a Delhi court issued non-bailable arrest warrants for Vijay Mallya for retaliation and failure to appear in an ED case, even as the SC criticized Mallya for failing to disclose his assets during the hearing of a plea filed by a group of banks to recover debts. Mallya offered to deposit Rs. 4,000 crores as settlement in march 2016 for ongoing lawsuits brought by his businesses, including the now-defunct Kingfisher Airlines. He increased the offer to Rs. 6868 crore a month later.

“Congratulations to the Government for the Covid -19 relief package, They are free to print as much money as they wish. But should a little donor like myself, who offers to repay State-owned Bank debts in full, consistently go unnoticed? Please accept my payment in full and let me go.” he had also tweeted.

After years of hearings the case has finally come to an end where the Indian Government has cleared all the cases and has accepted the compensation.

Vijay Mallya is called "The king of good times" or "the wine baron"; his moniker speaks for itself. His life's narrative describes many nations, time zones, vehicles, and occupations.

He advocates experiencing life to the fullest extent possible. Over other business executives and tycoons, he consistently projected an image of a great leader thanks to his clear vision and courage in the face of challenging and novel difficulties. He is the one who altered the popular perception of a "multinational firm."

Referred to as Richard Branson of India. Mallya's personality forms a significant portion of the Kingfisher brand's personality. He is regarded as a morally upright leader. He is commended for being the only person to transform his beer's image from a simple commodity into a modern lifestyle brand. In India, The Kingfisher has a 29% market share and is distributed to over 52 nations.

One of the most flamboyant CEOs in Asia is Vijay Mallya, the CEO of United Breweries, which owns the Kingfisher brand. He's developed a reputation for blowing through his funds in the public trusts. Even he is regarded as a highly parotic individual. He won the bid for the priceless Kohinoor diamond in England and gave it to the Indian government as a gift.

His leadership style is reflected in his mission statement. Everybody has bad days, and business is a game of ups and downs.

DISCLAIMER - The above information and facts to some extent have been altered for the purpose of this project. This project is only for academic purposes. 

Task in Hand:

You are Vijay Mallya .

Now coming back to India, you are  planning to start your whole business from scratch all again, so come up with a

Idea for the product, (detailed information of the product that both consumer and the investor would like to know)

Draft a press statement explaining reasons for engaging in such a scam

Sources of funds for new ventures of business.

Strategies to boost collaborative efforts

Prepare a forecasted financial statement for the next three years i.e P &L And balance sheet and Cash flow statement.

Merger or acquisition if any.

PR Strategies to improve your goodwill (as the existing name already has a negative perception.)

Break Even Analysis

Deliverables:

A ppt of not more than 7 slides.

A report of not less than 5 pages.

A press statement.

Extra deliverables are welcome.

Deadline :- The participants are expected to submit the task deliverables before 2:59 am.

File Name Format: VER_01_(task name)

E-Mail Subject Format: VER_01_(task name)

All the deliverables have to be mailed to bm.vistas22keng@gmail.com

All the deliverables should be under one mail.

For any doubts please contact :

Amrutha Viswanathan -9944247773

Lishi jain - 7780486959

[criminal-lawyer-in-delhi]

Why Sidhant Dhingra & Associates Law Firm is Your Top Choice

When navigating the complex and often intimidating world of criminal law, choosing the right legal representation can make a huge difference. For over a decade, Siddhant Dhingra & Associates has established itself as a leading Criminal Law Firms in Delhi , renowned for its expertise, dedication and exceptional track record. Here's why we are your top choice for criminal law matters, especially those involving high-profile and sensitive matters.

We are recognized as a best law firm in Delhi. We represent clients before the Supreme Court, High Court, District Court and various tribunals. Our reputation is based on providing the highest quality legal advice and representation to our clients for over 10 years.

Our unrivalled experience in dealing with heinous crime case related to highest profile and most sensitive matters more particularly money laundering cases under Prevention of Money Laundering Act, 2002, Cyber Crime case where authority seize the bank account and harassed the individual without any valid ground, etc,. In today's digital world, cybercrime has become a major area of concern. Defending against cybercrime charges requires specialized knowledge and an in-depth understanding of technology and the law. At Siddhant Dhingra & Associates, we are well-versed in handling cases related to unauthorized access, online fraud, digital harassment, and other cyber-related crimes. This type of matter enables us to provide expert advice and support to both individuals and companies when they need it most.

How we can help

Our law firm specialise in advising individuals and companies who find themselves caught up in the fight against financial crime (PMLA and ED).

From those people of carrying out “high-level” money laundering arising from major frauds, terrorist activity and fraudulent transactions, to those suspected of helping to further the laundering process. Whether payments are electronic or cash-based, whether parties are involved knowingly or unknowingly – We can represent our client in court and are confident of achieving a positive outcome. Our commitment to personalized service means clients receive attention and best legal solutions in the legal battle. Our Law firm work very closely with our clients and our law firm ensure that they are well-informed about the legal process and that their concerns are addressed before the court promptly and effectively.

What is it about our law firm that makes us the best and on top?

Sidhant Dhingra & Associates is the best law firm in Delhi because we have a proven track record in the courtroom built over many years with a single-minded commitment to serve our clients' interests. Our clients benefit from our deep understanding of legal processes and our ability to craft compelling arguments. We pride ourselves on our ability to achieve positive outcomes even in the most challenging and high-profile cases.

Our success is measured not only by favourable verdicts but also by the trust and confidence our clients place in us. We strive to maintain the highest standards of professionalism and integrity, ensuring that each case is handled with the utmost care and diligence.

Conclusion

We would be remiss not to mention that Siddhant Dhingra & Associates is the best law firm in Delhi that combines experience, expertise and a proven track record of success. Whether you are facing charges relating to money laundering, cybercrime or any other criminal matter, our team is dedicated to providing you with the highest level of legal representation.

With over a decade of experience and a reputation for excellence, we are confident in our ability to navigate even the most complex legal challenges. If you need expert advice and strong representation, look no further than Siddhant Dhingra & Associates. We are here to support you every step of the way, ensuring your rights are protected and your case is handled with the utmost expertise.

[companyknowledgenews]

Hindenburg news: Congress demands Centre to ‘eliminate all conflicts…’; TMC asks ‘will CBI, ED file cases?’ - Notice Global Online https://www.merchant-business.com/hindenburg-news-congress-demands-centre-to-eliminate-all-conflicts-tmc-asks-will-cbi-ed-file-cases/?feed_id=161998&_unique_id=66b83d21e1841 #GLOBAL - BLOGGER BLOGGER Hours after US short-seller Hindenburg Research levelled allegations against Sebi chairperson Madhabi Buch, the Congress on Saturday asked the Central government to immediately eliminate all conflicts of interest in the regulator’s investigation of the Adani Group.Congress general secretary Jairam Ramesh, in an official statement, said the Sebi’s “strange reluctance” to investigate the “Adani mega scam” has been long noted, not least by the Supreme Court’s Expert Committee.“Under public pressure, after the Adani horse had bolted, SEBI’s board reintroduced stricter reporting rules on 28 June 2023. It told the Supreme Court’s Expert Committee on 25 August 2023 that it was investigating 13 suspicious transactions. Yet the investigations never bore fruit,” the Congress leader added.He stated that Hindenburg Research’s revelations on Saturday indicate that Buch and her husband invested in the same offshore funds based in Bermuda and Mauritius, where “Vinod Adani and his close associates, Chang Chung-Ling and Nasser Ali Shahban Ahli, had also invested money obtained from the over-invoicing of power equipment.”“The government must act immediately to eliminate all conflicts of interest in the SEBI investigation of Adani. The fact is that the seeming complicity of the highest officials of the land can only be resolved by setting up a JPC (joint parliamentary committee) to investigate the full scope of the Adani mega scam,” he said.Similarly, Trinamool Congress leader Mahua Moitra also said, “crony capitalism is at its finest”. In a post on X (formerly Twitter), Moitra wrote, “In true Adani style – even SEBI Chairman is investor in his group.”“Crony Capitalism at its finest. @CBiHeadquarters&@Dir_ED – will you be filing POCA and PMLA cases or not?” she asked.Google News What does Hindenburg’s new report say?Hindenburg Research has released an exclusive new report implicating SEBI chairperson Madhabi Puri Buch in the ‘Adani money siphoning scandal.’ This report follows more than a year after Hindenburg first accused the Adani Group of insider trading and other stock market violations—allegations consistently denied by the conglomerate led by Gautam Adani.The latest report highlights an offshore Mauritius fund called IPE Plus Fund, reportedly established by Vinod Adani through India Infoline. It also references the Bermuda-based Global Dynamic Opportunities Fund, which invested in IPE Plus Fund 1. Vinod Adani, a Dubai-based businessman and the elder brother of Gautam Adani, is still connected to the Adani Group.“We had previously noted Adani’s total confidence in continuing to operate without the risk of serious regulatory intervention, suggesting that this may be explained through his relationship with the SEBI Chairperson. What we hadn’t realized: the current SEBI Chairperson and her husband, Dhaval Buch, had hidden stakes in the exact same obscure offshore Bermuda and Mauritius funds, found in the same complex nested structure, used by Vinod Adani,” the report said.Google News What did Hindenburg’s previous report say?Last January, Hindenburg Research, known for shorting companies like electric truck maker Nikola Corp and Twitter (now X), accused the Adani Group of orchestrating “the largest con in corporate history.” The report claimed that the conglomerate used a complex network of offshore companies in tax havens to inflate revenues and manipulate stock prices while accumulating significant debt.Despite the Adani Group’s strong denial of these accusations, the report caused a sharp decline in the group’s stock prices, erasing over USD 150 billion in market value across its 10 listed companies at their lowest point.

However, most of these companies have since recovered their losses.Following the Hindenburg report, the Supreme Court of India directed the market regulator SEBI to investigate and formed an expert panel to examine potential regulatory lapses. The panel did not issue any negative findings against Adani, and the Supreme Court concluded that no additional investigations were necessary beyond SEBI’s ongoing inquiry.SEBI informed the Supreme Court-appointed panel that it was investigating 13 opaque offshore entities holding between 14% and 20% in five publicly traded stocks of the conglomerate. It remains unclear if these two ongoing investigations have since been completed.(With inputs from agencies)Catch all the Budget News , Business News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess“Congress criticied SEBI’s reluctance to investigate the Adani Group, despite ongoing probes into suspicious transactions. Hindenburg’s new report implicates SEBI Chairperson Buch in the Adani money siphoning scandal…”Source Link: https://www.livemint.com/news/india/hindenburg-news-congress-centre-eliminate-all-conflicts-tmc-asks-will-cbi-ed-file-cases-sebi-madhabi-buch-adani-11723337263358.html http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/08/9100831954_fffef93ae3_o.jpg Hours after US short-seller Hindenburg Research levelled allegations against Sebi chairperson Madhabi Buch, the Congress on Saturday asked the Central government to immediately eliminate all conflicts of interest in the regulator’s investigation of the Adani Group. Congress general secretary Jairam Ramesh, in an official statement, said the Sebi’s “strange reluctance” to investigate the “Adani mega … Read More

[townpostin]

Ranchi: Real Estate Tycoon Arrested in Money Laundering Case

ED Takes Businessman into Custody After Prolonged Evasion Ranchi real estate mogul faces judicial custody following ED probe into alleged financial misconduct and arms possession. RANCHI – Local businessman detained by Enforcement Directorate in connection with suspected money laundering activities. The Enforcement Directorate (ED) has apprehended a prominent real estate figure from Jamshedpur in…

[tfgadgets]

Court Frames Money Laundering Charges Against Ex Tamil Nadu Minister Senthil Balaji - NDTV

Court Frames Money Laundering Charges Against Ex Tamil Nadu Minister Senthil Balaji  NDTV PMLA case: Senthil Balaji pleads not guilty as city court frames charges  Deccan Herald Senthilbalaji case: Chennai court frames charges against former Tamil Nadu Minister Senthilbalaji in PMLA case  The Hindu Senthil Balaji’s Bail Plea | Can Trial In PMLA Case Proceed Without Trial In Predicate Offence?…

[letsdiskuss-blog]

Arvind Kejriwal Granted Bail: Delhi CM Released Amidst Ongoing Excise Policy Controversy

Supreme Court's Interim Bail: On July 12, 2024, the Supreme Court granted interim bail to Delhi Chief Minister Arvind Kejriwal in a money laundering case linked to an alleged excise policy scam. This decision raised significant questions regarding the Enforcement Directorate's (ED) authority to arrest individuals under the Prevention of Money Laundering Act (PMLA) and emphasized the necessity of judicial scrutiny in such arrests.

Ongoing Legal Challenges: Despite the Supreme Court's interim bail, Kejriwal remains incarcerated due to a subsequent arrest by the Central Bureau of Investigation (CBI) on June 26, 2024. The CBI has labeled him the "sutradhaar" (mastermind) of the liquor policy case, asserting that his arrest was crucial for the investigation.

Delhi High Court Proceedings: The Delhi High Court is currently deliberating on Kejriwal's bail plea in the CBI case. The court has reserved its judgment after hearing arguments from both the CBI, which claims to have substantial evidence against him, and Kejriwal's defense, which argues that the arrest is based on hearsay and lacks direct evidence.

Legal Implications: The Supreme Court's ruling has broader implications for the enforcement of the PMLA, particularly regarding the conditions under which arrests can be made. The court highlighted that the exercise of arrest powers must be carefully scrutinized to prevent misuse and to protect individual rights. Read more: https://www.letsdiskuss.com/arvind-kejriwal:-arrest-claims-supreme-court-battle-and-more

[trueenewshub]

Kejriwal is now Superstar

IMC WEB DESK NEW DELHI: Delhi’s Chief Minister Arvind Kejriwal got major relief after Honourable Supreme court granted interim bail over the money laundering case. 

Bandana Kumari is relieved but worried of the road ahead.

Three times AAP MLA Bandana Kumari from Shalimar Bagh constituency speaking exclusively to IMC News Bureau said that Kejriwal’s release is a big boost for the party’s fortune ahead of the impending Assembly election.

Referring to Delhi’s voters as an extended family of Aam Aadmi Party, she said all pending welfare issues of the state would now, be fast tracked before the announcement of the assembly election dates.

Bandana Kumari told IMC news bureau that all pending files on various developmental programs would now be taken up urgently by the CM’s office.

AAP’s future step

Bandana Kumari disagreed that anything quite stopped during Kejriwal’s absence. She said “Even in the absence of the CM, there was not even a single day when APP was not hitting the roads solving grass root level issues.”

With just a few month’s left for the upcoming assembly election, AAP has a tall task in hand. Non BJP votes would be divided between AAP and Congress as the National Alliance won’t work in Delhi. It would a fourth straight fight for Bandana Kumari in the prestigious Shalimar Bagh Constituency on New Delhi.

How Kejriwal got bailed out

On March 21, ED arrested Arvind Kejriwal by alleging a case of criminal conspiracy by the Aam Aadmi Party (AAP) leaders like Manish Sisodia and others to benefit the liquor sellers by doing changes in the Delhi Excise Policy of 2021-22.

According to the agencies which are involved in this case alleged that AAP funded their election campaign in Goa with funds procured by this exercise.

In the Delhi excise policy case, The Supreme Court has granted interim bail to Delhi Chief Minister and Aam Aadmi Party (AAP) National Convener Arvind Kejriwal on Friday.

In the order passed, a larger bench of top court needs to reconsider the legal question regarding the "necessity to arrest" under Section 19 of the Prevention of Money Laundering Act (PMLA). This will definitely help in order to move the case forward.

[lawtoppers]

Supreme Court Grants Interim Bail to Delhi CM Arvind Kejriwal - सर्वोच्च न्यायालयाने दिल्लीचे मुख्यमंत्री अरविंद केजरीवाल यांना मनी लाँडरिंग प्रकरणात अंतरिम जामीन दिला आहे

The Supreme Court has granted interim bail to Delhi CM Arvind Kejriwal in a money laundering case, while deliberating the necessity of his arrest under PMLA Section 19.

Legal News – कानूनी समाचार Supreme Court Grants Interim Bail to Delhi CM Arvind Kejriwal In a significant development, the Supreme Court of India has granted interim bail to Delhi Chief Minister Arvind Kejriwal in the ongoing money laundering case. This case has garnered widespread attention due to its high-profile nature and the political implications involved. The court’s decision comes…

[advocate-paresh-m-modi]

Cheque Bounce Lawyer In Ahmedabad | Cheque Dishonor Case Advocate in Ahmedabad | NI Act 138 Cheque Return Vakil in Ahmedabad

A cheque bounce happens due to insufficient account balance, expired validity of cheque and overwriting among other reasons. The cases of cheque bounce are quite common that nearly 40 lakh cases are pending, claim Supreme Court reports. Here, you will get to know the legal rights involved in the cheque bounce cases.

Section 138 of the Negotiable Instruments Act, 1881 is the primary law in the context of cheque bounce cases. We have personally observed and analysis the rights and remedies existing in cheque bounce cases.

These include the Complainant, accused, Summons, warrants, Non Bailable warrants, prosecuting attorneys, bail bonds, criminal defense Lawyers, magistrate judges, witnesses, Sometime FSL Department and many more.

At all stages of the criminal process, a person got the complaint registered, then Court will issue the summons to the accused, if not present then court will issue the warrant than non bailable warrants, whenever the accused present either he has to confess his guilt or has to face further legal proceedings. The NI Act 1881, Section 138 provide a remedy to the people who made a personal or Business financial Transactions and get the assured instruments like cheque with malafide intense of the accused. Advocate Paresh M Modi is Cheque Bounce Lawyer in Ahmedabad having enough experience regarding NI Act 1881. Advocate Paresh M Modi is also the Best Advocate in Ahmedabad, Gujarat, Specialist of Negotiable Instrument Act 1881, Section 138. He is the Best Lawyer near me for Cheque Return Cases, Criminal Cases, Family Matters and Civil Matters in Ahmedabad, Gandhinagar, Nadiad, Anand, Baroda, Vadodara, Surat and other Small town of Gujarat State Call Now : 9925002031.

Expertise :

As a Cheque Bounce advocates we have very good experience. we know how to do interpretation of each section of NI Act 1881, our professional team of Criminal lawyers knows how to file the complaint for Cheque Return Case and handle the Complainant, accused, Bank Officers, Postal Departments person, witnesses during the cross examination and also knows how to identified weak section of the Case like, contention of legal notice, Reply of notice, complaint and entire case facts.

As a procedure People who are found to have violated a criminal statute — whether through their own confession by a “guilty” plea or as a result of a entire trial case, they can be punished through imprisonment up to 2 years with the fine of up to double amount of bounced cheque and other penalties may be imposed.

But in all situation our best cheque Dishonor lawyers are handling the matter and due to good experience, we have proven records of some benchmark cases of individuals and corporates.

At present we are taking care of number of companies and NBFC’s cheque bounce cases in Ahmedabad, Gandhinagar, Nadiad, Anand, Baroda, Vadodara, Surat and other Small cities of Gujarat State.

Offer :

As a Specialist lawyer of Cheque Bounce cases, Negotiable Instrument Act 1881, Section 138 cases, we are offering legal services in Gujarat for entire case handling for complainant as well as Accused. Our services begins from legal notice or Reply of legal notice for cheque bounce to final order of Hon’ble court as well as Accused.

Except NI Act 138 cheque Return Cases, We do Bail Application – Appeal in session court and Gujarat High Court for different types of criminal cases like financial Fraud, Property cheating Murder prohibition PASA NDPS drug PMLA Act Case, Cyber-crime and other lots of crime.

Result or Benefits :

As per Advocates Act 1961, lawyers cannot give assurance and guaranty or warranty of result and time in any form but we assured that our clients will get good legal services from specialized Criminal lawyers and Advocates. They will get good guidance, perfect legal remedies as well as result oriented efforts of our team and thus our intelligent Advocates may be able to negotiate a compromise with the prosecution for the benefit of our client, As an experienced lawyers, we can give you the best options for your Criminal case and defend you at trial Court, Session Court and High Court.

Frequently Asked Questions :

1. What is a negotiable instrument act and its types? Ans. A negotiable instrument is a legal document written and signed by one party to ensure it will pay or repay the required amount within a specific time range or on-demand. It is transferable, and an individual or entity has the liberty to decide whether they want to encash it or transfer it to consecutive payees.

2. Is there bail for cheque bounce case? Ans. Dear client, There is no anticipatory bail for offence under cheque dishonor. The offence is a bailable offence. The parameters to be considered is when was the cheque issued, when was it presented in the bank and the burden to prove the transaction lies with the complainant.

3. What is the time limit to file the cheque bounce case? Ans. As per Negotiable Instruments Act, legal notice must be sent within 30 days from the date of cheque bounce. Thereafter within 15+30=45 days from the date of sending the legal notice, case must be filed. In case the case is filed beyound that time then the same shall be time barred.

4. Who is the best Lawyer For Bounced Cheque in Ahmedabad? Ans. Advocate Paresh M Modi is the best lawyer in Ahmedabad for cheque bounce cases (Negotiable instrument act 1881).

5. As an Accused, to whom I have to consult for my NI Act cheque Bounce Case in Gujarat State? Ans. If really you want to defend your case as an Accused, you must hire the Advocate Paresh M Modi for your complicated criminal Case of NI Act section 138.

[kupwaratimes-fan]

Kingpin Of JKSSB Paper Leak Case Remanded To ED Custody

Kingpin Of JKSSB Paper Leak Case Remanded To ED Custody JAMMU :  A special court here on Tuesday remanded Yatin Yadav, the alleged mastermind behind the 2022 JKSSB sub-inspector recruitment exam paper leak, to seven days of Enforcement Directorate (ED) custody. Yadav, 43, a resident of Haryana’s Rewari, was arrested under the criminal sections of the Prevention of Money Laundering Act (PMLA) on…

[tatvalegal]

Explainer | Vijay Madanlal Choudhary and Others v. Union of India and Others

In July 2022, the Indian Supreme Court (“SC”) pronounced its judgment[1] (“Judgment”) in a batch of writ petitions challenging the various provisions of the statute, namely, the Prevention of Money Laundering Act, 2002 (“PMLA”). This article aims to summarise the history of PMLA, reasons for challenging the said statute, the decision of the SC, and its implications.

Read More: https://tlegal.com/blog-details/explainer-or-vijay-madanlal-choudhary-and-others-v-union-of-india-and-others

Historical Context

The history of the PMLA can be traced back to the later part of the 1980s, when an urgent need was felt among various nations to protect their financial systems from money-laundering. In 1990, the United Nations General Assembly[2] called upon its member nations to develop mechanisms to prevent financial institutions from crumbling due to money-laundering, and to achieve the same by enacting laws in the respective countries. Eventually, in 1998, the United Nations in the ‘Special Session on Countering World Drug Problem Together’ passed a declaration on the need to combat money-laundering, to which India is a signatory.

India’s international commitment to combat money-laundering forms the basis of the legislative intent behind the enactment of the PMLA which came into force on 01 July 2005. This is reflected in the statutes’ preamble, and in the SC’s interpretation of the provisions under PMLA in the Judgment.

[townpostin]

Hemant Soren's Judicial Custody Extended in Land Scam Case

Former CM and Co-Accused to Remain in Jail for 14 More Days PMLA court hearing sees multiple defendants as investigation continues into alleged corruption. RANCHI – Former Jharkhand Chief Minister Hemant Soren and several co-accused appeared before the Prevention of Money Laundering Act (PMLA) court in Ranchi on Thursday. The court extended the judicial custody of all defendants by 14 days, with…

[blognows]

ED freezes Rs 42.21 crore more in E-nuggets gaming app fraud case

The Enforcement Directorate (ED) froze Rs 42.21 crore more across 1548 bank accounts as part of the money laundering investigation relating to mobile gaming application, E-nuggets.

The funds were spread across these accounts to be later converted into cryptocurrencies and sent outside India. So far, ED has confiscated an amount of Rs 110.76 from various raids and bank accounts.

One of the masterminds of the E-nuggets mobile gaming app fraud, Amir Khan, was arrested by the Kolkata police on September 24 and sent to ED custody for further investigation under the orders of a special PMLA court.

Several cases were also filed against Khan under various sections of the Indian Penal Code (IPC) by the Federal Bank authorities. According to reports Khan released the mobile gaming app named E-nuggets and gained the trust of app users by providing good returns. After some time when people started investing more their accounts became inaccessible and all the user data was deleted.

In September, ED seized a crypto wallet containing 77.62 bitcoins which amounts roughly to Rs. 12.83 crore under the PMLA after a raid at a house belonging to Amir Khan’s father in the Garden Reach area of Kolkata. Cash worth Rs 17.32 crore was sezied from the house.

The police also recovered multiple devices with remote access during the investigation which are said to be controlled from outside India and allegedly used by the real mastermind behind the fraud.

Shubhojit Srimani, a Dubai based businessman, is also believed to be Khan’s partner in the E-nuggets gaming app case. Srimani is believed to be operating from outside the country and the police have already issued a lookout notice against him.

Aamir Khan’s assistant Vikram Singh Gandhi, who served as a mediator in the case, was also taken into custody by ED. The police blocked another crypto wallet containing 150.22 bitcoins (Rs 22.78 Crore) under the PMLA. Amir Khan is being interrogated further with his friend Rumen Agarwal.

John Estrada

[kimskashmir]

Statutory bail granted to Kashmiri separatist leader Shabir Shah in PMLA case

NEW DELHI — Delhi’s Patiala House Court recently granted statutory bail to Kashmiri separatist leader Shabir Ahmad Shah in a money laundering case under PMLA. Despite the grant of bail, he will remain in custody as there are other cases pending against him. He was arrested in 2017 in this case. He sought statutory bail on the grounds that he has undergone more than half of the maximum sentence…