Proceeds of crime and money laundering: PMLA prosecution requires subsisting predicate offence; discharge of predicate accused precludes further prose...
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Revocation of a customs broker licence and forfeiture of security deposit for alleged breaches of regulations 10(a), 10(d), 10(e), 10(f) and 10(n) of CBLR, 2018 turned on whether the broker failed core due diligence and advisory obligations. The charge under regulation 10(a) failed because the authorization was on record and its authenticity was undisputed, so later non-contact with the signatory could not invalidate it. The charges under regulations 10(f) and 10(n) failed as no specific special procedure was shown for the goods and stipulated online verification had been undertaken. Only regulation 10(d) was sustained for failure to advise the client appropriately; consequently, revocation and forfeiture were set aside as disproportionate, while a monetary penalty was upheld. - CESTAT
Revocation of a customs broker licence and forfeiture of security deposit for alleged breaches of regulations 10(a), 10(d), 10(e), 10(f) and 10(n) of CBLR, 2018 turned on whether the broker failed core due diligence and advisory obligations. The charge under regulation 10(a) failed because the authorization was on record and its authenticity was undisputed, so later non-contact with the signatory could not invalidate it. The charges under regulations 10(f) and 10(n) failed as no specific special procedure was shown for the goods and stipulated online verification had been undertaken. Only regulation 10(d) was sustained for failure to advise the client appropriately; consequently, revocation and forfeiture were set aside as disproportionate, while a monetary penalty was upheld. - CESTAT
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