ED Money-laundering probe into Vivo

On July 8, 2022 the Delhi High Court asked the Enforcement Directorate to consider Vivo to allow it to unfreeze some of its bank accounts, in order to pay for its liabilities. Highlights Justice Yashwant Varma has asked the enforcement directorate to respond on ..

Tags: Enforcement Directorate • Money Laundering • Prevention of Money Laundering Act • Vivo

Month: Current Affairs - July, 2022

Category: Legal & Constitution Current Affairs

Amendments to Prevention of Money Laundering Act

The Finance Bill 2019 has proposed amendments to tighten the anti-money-laundering law. Amendments Proposed A total of eight amendments were proposed to the Prevention of Money Laundering Act (PMLA), 2002, of which six are explanations to the existing clauses. The ..

Tags: Money Laundering • Prevention of Money Laundering Act • Proceeds of Crime

NCLAT on the IBC and PMLA

In a case related to Rotomac Global Private Limited, the National Company Law Appellate Tribunal (NCLAT) has made following observations related to Insolvency and Bankruptcy Code (IBC) and Prevention of Money Laundering Act (PMLA): Prevention of Money Laundering Act (PMLA), ..

Tags: IBC • Insolvency and Bankruptcy Code • National Company Law Appellate Tribunal • NCLAT • PMLA

PMLA prevails over Bankruptcy Act and Insolvency Code: Delhi HC

The Delhi High Court has ruled that Prevention of Money Laundering Act (PMLA) prevails over the Bankruptcy Act and insolvency code when it comes to attachment of properties obtained as ‘proceeds of crime’. The Enforcement Directorate (ED) had challenged the ..

Tags: CLAT • Delhi High Court • ED • Enforcement Directorate • IBC

Month: Current Affairs - April, 2019

Vijay Mallya becomes first Indian business tycoon to be named “Fugitive Economic Offender (FEO)”

Former liquor baron Vijay Mallya has become the first Indian businessman to be declared a Fugitive Economic Offender (FEO) under the newly enacted Fugitive Economic Offenders Act of 2018 by the Special Prevention of Money Laundering Act (PMLA) court in ..

Tags: Asset forfeiture • Crime • Fraud • Fugitive Economic Offender • Fugitive Economic Offenders Act

Sanjay Kumar Mishra given charge of Enforcement Directorate (ED) director for three months

Sanjay Kumar Mishra, a 1984-batch Indian Revenue Service (IRS) officer of the Income Tax cadre, has been appointed as the principal special director in the central probe agency and entrusted with the “additional” charge of Enforcement Directorate (ED) director for ..

Tags: Central Civil Services • Enforcement Directorate • Federal Emergency Management Agency • Government • Indian Revenue Service