https://www.taxtmi.com/caselaws?id=760305 Punjab and Haryana HC dismissed a petition challenging arrest under PMLA in a money laundering case involving diversion of Rs. 1530.99 crores from sanctioned loan amount. The court held that ED complied with Section 19 PMLA requirements by providing reasons to believe to the arrested person. Following SC precedent in Arvind Kejriwal case, the court found arrest grounds were self-sufficient, clearly conveying arresting officer's intention, reasons and belief. Non-recovery of massive proceeds of crime justified arrest. The arrest conformed to statutory mandates and constitutional requirements. en-us Mon, 30 Sep 2024 00:00:00 +0530 Fri, 18 Oct 2024 16:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760305 Punjab and Haryana HC dismissed a petition challenging arrest under PMLA in a money laundering case involving diversion of Rs. 1530.99 crores from sanctioned loan amount. The court held that ED complied with Section 19 PMLA requirements by providing reasons to believe to the arrested person. Following SC precedent in Arvind Kejriwal case, the court found arrest grounds were self-sufficient, clearly conveying arresting officer's intention, reasons and belief. Non-recovery of massive proceeds of crime justified arrest. The arrest conformed to statutory mandates and constitutional requirements. Case-Laws Money Laundering Mon, 30 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760305