Securing bail under the Prevention of Money Laundering Act, 2002 (“PMLA”), is challenging due to the high threshold for bail stipulated by the Act. Section 45 of the PMLA stipulates that bail may be granted to an accused in a money laundering case only if two conditions are met: first, the Public Prosecutor must be
The Prevention of Money Laundering Act, 2002 (“PMLA”), is a comprehensive law, dealing with aspects of money-laundering, attachment of proceeds of crime, adjudication, and confiscation thereof. The “proceeds of crime” is the fulcrum of the offence of money-laundering under the PMLA and all actions taken by the Enforcement Directorate (“ED”) under the PMLA invariably revolve
Introduction
Section 9 of the Arbitration and Conciliation Act 1996 (“Arbitration Act”)[1] deals with the powers of courts to grant interim reliefs, before or during arbitral proceedings or at any time after the making of the arbitral award but before it is enforced, to parties in order to safeguard the subject matter of the
Introduction
The Supreme Court of India (“SC”) in its landmark decision in Arif Azim Co. Ltd. v. Micromax Informatics FZE[1] (“Arif Azim”)[2] has once again reiterated the distinction between ‘seat’ and ‘venue’ in an arbitration agreement and its jurisdictional implication. The judgment addresses the contentious issue of whether a location designated in an
Introduction
This is in continuation to the series on the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (“2021 Rules”). This article examines the Rule[1] that proposed the creation of a fact-checking unit (“FCU”) and the subsequent legal challenge before the Bombay High Court, which has led to this specific rule
Introduction
Party autonomy is undoubtedly a cornerstone of arbitration proceedings, allowing parties substantial freedom to shape the contours of their dispute resolution process. This freedom extends to choosing arbitrators and defining procedural rules, reflecting a central appeal of arbitration over litigation. However, this autonomy has limits, particularly where it intersects with the mandatory provisions of
Introduction:
A recent decision rendered by the Madras High Court in S. Srinivasan v. The Assistant Director, Directorate of Enforcement, Chennai[1], has held that being in possession of the proceeds of crime and claiming it to be untainted property can independently be perceived as money laundering under Section 3 of the Prevention of
The Supreme Court (“SC”) recently addressed the validity of reassessment notices in Rajeev Bansal[1], issued under Section 148 of the Income Tax Act, 1961 (“IT Act”), from April 1, 2021, to June 30, 2021, even though the reassessment regime had been overhauled with effect from April 1, 2021. The Revenue argued that these
Background
In recent years, the Indian government has made significant strides toward enhancing the operational framework of the International Financial Services Centre at Gujarat International Finance Tec-City (“GIFT-IFSC”). GIFT-IFSC was established with an aim to redirect all financial transactions conducted by residents in foreign financial centres to India. By virtue of RBI circular[1] titled
