Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
The dominant issue was whether the service agreements between regulated lenders and fintech service providers constituted proceeds of scheduled offences and unlawful outsourcing of core banking functions. The tribunal found that the co-lending structure, disguised as "performance guarantees" and revenue-sharing (service fees/minimum commitments), yielded guaranteed returns to lenders without capital deployment, and effectively outsourced core lending activities (loan sanctioning, KYC compliance and borrower management) in breach of RBI master directions; misuse of borrower data facilitated offences under IPC and IT Act. Consequence: contractual arrangements were treated as tainted and the appeal was dismissed. - AT
The dominant issue was whether the service agreements between regulated lenders and fintech service providers constituted proceeds of scheduled offences and unlawful outsourcing of core banking functions. The tribunal found that the co-lending structure, disguised as "performance guarantees" and revenue-sharing (service fees/minimum commitments), yielded guaranteed returns to lenders without capital deployment, and effectively outsourced core lending activities (loan sanctioning, KYC compliance and borrower management) in breach of RBI master directions; misuse of borrower data facilitated offences under IPC and IT Act. Consequence: contractual arrangements were treated as tainted and the appeal was dismissed. - AT
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