Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
The dominant issue was whether the petitioner's arrest for money-laundering violated the safeguards under Section 19(1)-(2) of the PMLA, including whether "reasons to believe" and the grounds of arrest were illusory and whether arrest could rest on non-cooperation or a predicate-offence investigation. The Court held that arrest under Section 19 is not a tool for investigation; it requires an independent PMLA investigation and recorded written reasons reflecting prima facie satisfaction of guilt, with due consideration of exculpatory material. On the facts, the Court found Section 19 compliance by the arresting officer and declined release on that ground, leaving merits-bail open to be considered independently. - HC
The dominant issue was whether the petitioner's arrest for money-laundering violated the safeguards under Section 19(1)-(2) of the PMLA, including whether "reasons to believe" and the grounds of arrest were illusory and whether arrest could rest on non-cooperation or a predicate-offence investigation. The Court held that arrest under Section 19 is not a tool for investigation; it requires an independent PMLA investigation and recorded written reasons reflecting prima facie satisfaction of guilt, with due consideration of exculpatory material. On the facts, the Court found Section 19 compliance by the arresting officer and declined release on that ground, leaving merits-bail open to be considered independently. - HC
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