PMLA Act Archives

Bringing Art into Frame: A Case for Including Art Market Participants under the PMLA

by Avik Biswas*, Rithika Reddy** and Prerna Acharya***

Delhi High Court grants anticipatory bail to nephew and brother of Director of M3M India in PMLA Case

It is based upon the discretion of the applicant which Court they want to approach since both the Court, namely, High Court and Court of Sessions, have concurrent jurisdiction and the same cannot be restricted by construing the provision of Section 438 of CrPC narrowly.

Case Briefs High Courts

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’.

Case Briefs Supreme Court

Supreme Court holds “twin conditions” under Section 45 of PMLA reasonable: Applicability to anticipatory bail, non-cognizable offences discussed; Exception highlighted

Supreme Court: The 3-judge bench of AM Khanwilkar*, Dinesh Maheshwari and CT Ravikumar, JJ has, in 545-pages-long judgments, has dealt with various

Case Briefs High Courts

Money laundering offence under PMLA is, layered and multi-fold and includes stages preceding and succeeding offence of laundering money: Del HC

Delhi High Court: While expressing the object of PMLA Act Chandra Dhari Singh, J., expressed that, offence of money laundering is threefold