15 months in jail, no end in sight for trial, SC grants TN ex-minister Senthil Balaji bail in PMLA case
ED case stems from Chennai Central Crime Branch's FIRs against Senthil Balaji for allegedly taking bribes to give jobs when he was transport minister in J. Jayalalithaa's AIADMK govt. Key Points
ThePrintKejriwal arrested: Here is why Delhi CM might not get bail in money laundering case
Delhi Chief Minister Arvind Kejriwal has been arrested by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act, 2002, in connection with a liquor scam. The ED will seek his custody for interrogation in a special PMLA court today. Kejriwal has challenged his arrest in the Supreme Court, which will hear the case today. This arrest follows Kejriwal's refusal to comply with eight summonses issued by the probe agency. Key Points
Economic TimesED can continue probe under PMLA even if police drop scheduled offences, says SC
SC was hearing civil servant Saumya Chaurasia’s appeal against Chhattisgarh HC’s refusal to grant her bail. Chaurasia has been accused of being involved in alleged Rs 540-crore coal scam. Key Points
ThePrintPunjab & Haryana HC clamps down on ED’s powers, says no arrests under PMLA without scheduled offence
In July, ED arrested Congress MLA Surender Panwar on charges of illegal mining & EPA violations. The HC quashed his arrest Monday, saying these are not scheduled offences under PMLA. Key Points
ThePrintED has no authority to subject any person to custodial interrogation, argues counsel for Senthilbalaji’s wife
Appearing before the Madras High Court for arrested Minister V. Senthilbalaji’s wife Megala, Senior counsel N.R. Elango questioned the authority of Directorate of Enforcement (ED) to insist upon custodial interrogation of her husband. He contended the Prevention of Money Laundering Act (PMLA) of 2002 does not confer the powers of a Station House Officer (officer in-charge of a police station) on any official of the ED and therefore the latter cannot seek custody of an arrested person. Key Points
The Hindu
Enough material against Naresh Goyal, wife to show their complicity in bank fraud case: Court
Besides the Goyals, the central probe agency has named four companies --Jet Airways (India) Ltd (JIL), Jetair Pvt Ltd, Jet Enterprises Pvt Ltd and Jet Airways LLC, Dubai -- as accused in the case. M G Deshpande, the special judge hearing cases filed under the Prevention of Money Laundering Act (PMLA), took cognizance of the chargesheet on November 1, while a detailed order was made available on Friday. Key Points
Economic TimesSC order rejecting Sisodia's bail plea raises doubts on ED's charges that he received bribes
Bench says ED allegation of Rs 2.2 crore bribe being paid to Sisodia not part of CBI chargesheet, says charge of kickbacks paid by liquor group is 'somewhat a matter of debate'. Key Points
ThePrint'No locus standi' — ED questions Soren govt’s 'interference' with mining probe in Jharkhand
State had sought grounds for ED summons issued to officials. Agency writes to principal secretary, questions govt's motives. Key Points
ThePrintED summons 10 Tamil Nadu district collectors in one go. Stalin govt contests 'illegal' move in HC
Petitions on behalf of 5 collectors say order violates PMLA & Constitution. DMK govt asks Madras HC to order interim stay on summons issued over sand mining, in fresh tussle with Centre. Key Points
ThePrintED reply to Kejriwal plea against arrest: 'Didn't oppose remand, can't disregard approver at probe stage'
Delhi CM's writ petition to be heard in Delhi High Court today. In counter-affidavit, ED reiterated that Kejriwal is 'kingpin and key conspirator' in excise policy scam case. Key Points
ThePrint
'Fishing expedition' — Madras HC order staying ED summons to 5 district collectors in Tamil Nadu
ED issued summons as part of probe into sand quarries across state since September, on allegations of illegal sale of sand mined from riverbeds. Matter posted for 21 December. Key Points
ThePrintExcise Policy Case: Court summons Delhi CM Kejriwal for non-compliance with ED summons
Delhi's Rouse Avenue Court has summoned Chief Minister Arvind Kejriwal once again for allegedly not complying with previous summons from the Enforcement Directorate (ED). The court will hear the matter on March 16. Key Points
Economic TimesED attaches 24 properties worth over Rs 82 crore in bank fraud case of Parabolic Drugs
New Delhi [India], March 27 (ANI): The Directorate of Enforcement (ED) has attached 24 immovable and movable properties totalling Rs 82.12 crore in the bank fraud case of Parabolic Drugs Limited, the agency said on Wednesday. The properties are in the form of cash, luxury cars, mutual funds, Fixed Deposit Receipts, bank balances. The properties […] Key Points
ThePrintED files prosecution complaint against jailed Punjab AAP MLA in ₹40.92-crore bank fraud
The Enforcement Directorate had arrested Jaswant Singh Gajjanmajra on June 11 last year under the special Prevention of Money Laundering Act. He is still in judicial custody of the special PMLA court in Mohali. Key Points
Hindustan TimesLalu Yadav's close aide Subhash Yadav arrested in sand mining case
Subhash Yadav, a close aide of RJD chief Lalu Prasad Yadav, was arrested by the Enforcement Directorate in Patna after raids at multiple locations, where nearly Rs 2.3 crore cash was seized. Alleged to be a key member of a sand mining racket, he is expected to appear before a special PMLA court. Key Points
Economic Times
SC defers hearing on pleas for reconsideration of 2022 PMLA verdict that upheld ED's power to arrest
The Supreme Court has adjourned the hearing on pleas seeking reconsideration of its July 27, 2022 verdict, which upheld the Enforcement Directorate's powers under the Prevention of Money Laundering Act (PMLA). The court deferred the hearing for eight weeks after Solicitor General Tushar Mehta requested time to address the arguments raised by the petitioners. Key Points
Economic TimesBrought GST under PMLA purview to empower investigators in fighting financial fraud: Centre
The central government on Saturday issued a notification to bring the Goods and Services Tax Network (GSTN) under the Prevention of Money Laundering Act (PMLA). With the implementation of the said order, the information stored on the GST Network can now be shared, as may be required, under the PMLA Act. Key Points
Economic TimesNo decision to introduce plastic notes: MoS Finance
Minister of State for Finance Pankaj Chaudhary stated that the government has not made a decision to introduce plastic notes. The government is continuously working to improve the durability and counterfeit resistance of Indian banknotes. According to the RBI Annual Report 2022-23, no cost has been incurred on the printing of plastic notes. Key Points
Economic TimesPMLA case: Delhi court extends ED custody of 3 Vivo-India executives by 1 day
The federal agency had earlier arrested four people -- mobile company Lava International's MD Hari Om Rai, Chinese national Guangwen alias Andrew Kuang, and chartered accountants Nitin Garg and Rajan Malik -- in the case. They are in judicial custody at present. The ED had filed a charge-sheet against the four in a special PMLA court in Delhi. Key Points
Economic TimesB'luru court declares Ramachandran Vishwanathan as 'Fugitive Economic Offender'
The matter pertains to the alleged offences committed under the Fugitive Economic Offenders Act, 2018 in the Devas Multimedia Pvt. Ltd. Case. | Bengaluru News Key Points
Hindustan Times
Anti-money laundering law ambit widened: A look at the changes
The Indian government has widened the ambit of its anti-money laundering law by bringing in new reporting entities, and changed the way financial transactions are recorded, giving more powers to authorities. The changes seek to make the framework more effective and compliant. The changes come as India prepares for a review by Financial Action Task Force (FATF) in November. Key Points
Economic TimesChanges in anti-money laundering law can adversely impact foreign investment facilitation, say CAs
According to industry sources, chartered accountants (CAs) and company secretaries often act as formation agents for foreign companies setting up businesses in India and often provide their own address for communication in the initial phase. They also act as resident directors of the foreign company trying to establish presence in the country and also operate bank accounts on behalf of their clients. Key Points
Economic TimesFinancial pros seek clarity after PMLA ambit gets wider
Chartered Accountants, Cost and Management Accountants, and Company Secretaries have stated the Notification released by India's finance ministry on Tuesday extended the scope of the Prevention of Money Laundering Act, adding an extra level of complexity to their work. Experts argue that defining terms, including formation agent and arranging for another person , remains unclear. Key Points
Economic TimesChhattisgarh: ED arrests Raipur mayor's brother in PMLA case linked to liquor 'scam'
The Enforcement Directorate on Saturday arrested Raipur Mayor Aijaz Dhebar's elder brother Anwar in a money laundering case linked to the alleged liquor scam in Chhattisgarh, official sources said. Aijaz Dhebar, 47, is a ruling party mayor in the Congress-ruled state. His elder brother Anwar, who runs a liquor business, was taken into custody under the Prevention of Money Laundering Act (PMLA) from a Raipur hotel in the morning, the sources said. Key Points
Economic Times