Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
The High Court considered a case involving a challenge to an attachment order by the Enforcement Directorate under the Prevention of Money Laundering Act. The proceedings stemmed from a crime registered by the Lokayukta for an offence under the Prevention of Corruption Act against the husband and wife. The court noted that the predicate offence under the Prevention of Corruption Act was closed for the wife in 2016 and for the petitioner in 2023. The Lokayukta challenged these proceedings in the Apex Court, which held that if the predicate offence is nullified by a competent court, the PMLA proceedings would also cease. Consequently, the High Court quashed the order by the Adjudicating Authority under the PMLA, allowing the petition.
The High Court considered a case involving a challenge to an attachment order by the Enforcement Directorate under the Prevention of Money Laundering Act. The proceedings stemmed from a crime registered by the Lokayukta for an offence under the Prevention of Corruption Act against the husband and wife. The court noted that the predicate offence under the Prevention of Corruption Act was closed for the wife in 2016 and for the petitioner in 2023. The Lokayukta challenged these proceedings in the Apex Court, which held that if the predicate offence is nullified by a competent court, the PMLA proceedings would also cease. Consequently, the High Court quashed the order by the Adjudicating Authority under the PMLA, allowing the petition.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
