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...
Initial defect in authorization to prosecute under the Negotiable Instruments regime is a curable defect; a company acts through natural persons and a complaint stating prima facie that an authorised employee represents the company and has knowledge is sufficient for cognizance. Where authorization is disputed on serious factual grounds the accused may raise the issue at trial and the Magistrate should not dismiss at threshold; invocation of inherent jurisdiction to quash such cognizance is unjustified. Subsequent ratification or board resolution may validate the complaint and additional evidence to that effect was rightly permitted.
Initial defect in authorization to prosecute under the Negotiable Instruments regime is a curable defect; a company acts through natural persons and a complaint stating prima facie that an authorised employee represents the company and has knowledge is sufficient for cognizance. Where authorization is disputed on serious factual grounds the accused may raise the issue at trial and the Magistrate should not dismiss at threshold; invocation of inherent jurisdiction to quash such cognizance is unjustified. Subsequent ratification or board resolution may validate the complaint and additional evidence to that effect was rightly permitted.
Note: It is a system-generated summary and is for quick reference only.
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