PMLA
Dalmia Cement Gets Partial Relief As PMLA Appellate Tribunal Cuts Proceeds To ₹92 Cr In ED Case Linked To YS Jagan Mohan Reddy
In a case linked to alleged quid pro quo investments involving former Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy, the Appellate Tribunal under the Prevention of Money Laundering Act (PMLA) in Delhi has reduced the proceeds of crime attributed to Dalmia Cement (Bharat) Ltd from Rs. 793.34 crore to Rs. 92.52 crore while partly allowing the company's appeal against the attachment of properties. A single-member coram of V. Anandarajan was hearing an appeal challenging an order dated...
Supreme Court Refuses To Interfere With Denial Of Anticipatory Bail To Chartered Accountant In PMLA Case
The Supreme Court recently refused to interfere with the Delhi High Court's order denying anticipatory bail to chartered accountant Bhaskar Yadav in a Rs. 640 crore money laundering case linked to fraudulent investment and part-time job schemes.“We do not find any ground to interfere with the impugned order passed by the High Court,” a Bench of Justices M.M. Sundresh and Augustine George Masih observed while dismissing Yadav's special leave petition. The court, however, granted Yadav 10 days'...
Confiscation Under PMLA Cannot Proceed While Appeal Against Attachment Is Pending: Supreme Court
The Supreme Court on Friday (February 6) held that confiscation proceedings under the Prevention of Money Laundering Act (PMLA) cannot be taken forward while an appeal against the confirmation of attachment is pending before the Appellate Tribunal. The Court clarified that once an attachment order passed under Section 8(3) of the PMLA is challenged under Section 26, a “deemed embargo” operates, preventing the Special Court from deciding confiscation proceedings under Section 8(7) until the...
Special PMLA Court Discharges DHFL From Money Laundering Case After Insolvency Resolution
The Special Court under the Prevention of Money Laundering Act at Mumbai has discharged Dewan Housing Finance Corporation Limited (DHFL) from the money-laundering case linked to former Yes Bank Managing Director and CEO Rana Kapoor. Additional Sessions Judge R. B. Rote held that the company could not be prosecuted after its insolvency resolution resulted in a complete change in management. DHFL, now known as Piramal Capital and Housing Finance Limited, had approached the Special Court seeking...
Bombay High Court Refuses To Quash FIR, ED Probe Against Ex-Religare Chairperson Rashmi Saluja
The Bombay High Court has dismissed writ petitions filed by Dr Rashmi Saluja, former Executive Chairperson and key managerial person of Religare Enterprises Limited (REL), challenging an FIR registered against her in September 2024 and the proceedings initiated by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act. A Division Bench of Chief Justice Shree Chandrashekhar and Justice Gautam A Ankhad refused to interfere with and FIR registered at Matunga Police Station,...
Delhi High Court Allows ED To Withdraw PMT Machines Appeal As It Turned Academic After Insolvency Resolution
The Delhi High Court has permitted the Enforcement Directorate to withdraw its appeal against PMT Machines Limited after holding that the challenge had become academic following the company's resolution under the insolvency law and the Supreme Court's decision to quash the related criminal proceedings. A Division Bench of Justice Navin Chawla and Justice Ravinder Dudeja said the appeal no longer required adjudication on merits. “In view of the subsequent developments, the present appeal has,...
Insolvency & Bankruptcy Code: Important Judgments By Supreme Court In 2025
In this article, LiveLaw brings to you a summary of important judgments rendered by the Supreme Court in 2025 in connection with the Insolvency and Bankruptcy Code, 2016. The same are as follows:1. 'IBC A Complete Code' : Supreme Court Disapproves Of High Court Exercising Writ Jurisdiction To Interdict CIRPCase: Mohammed Enterprises (Tanzania) Ltd. v. Farooq Ali Khan & Ors. [Citation: 2025 LiveLaw (SC) 19]In this case, a bench of Justices PS Narasimha and Manoj Misra disapproved of a High...
Madras High Court Rejects Minister I Periyasamy's Plea Against ED Probe, Tells Him To Approach PMLA Adjudicating Authority First
The Madras High Court has dismissed a plea filed by Tamil Nadu Minister for Rural Development I Periyasamy and his family members challenging an ECIR registered against them by the Enforcement Directorate in connection with a money laundering case. The bench of Chief Justice Manindra Mohan Shrivastava and Justice G Arul Murugan noted that the parties had filed the plea without approaching the adjudicating authority first. The bench thus directed them to approach the adjudicating...
Delhi High Court PMLA Digest 2025
'Not A Minor Offence, Part Of Crime Syndicate': Delhi HC Denies Bail To PMLA Accused Booked For Supplying Spurious Anti-Cancer MedicinesCase title: Lovee Narula vs.Directorate Of EnforcementCitation: 2025 LiveLaw (Del) 115The Delhi High Court has denied bail to an accused/applicant booked under the Prevention of Money Laundering Act, 2002 (PMLA) for his alleged involvement in the illegal procurement of empty vials and raw materials of anti-cancer drugs.Justice Chandra Dhari Singh in his order...
Not Chargesheeted Or Summoned In Predicate Case, Woman Accused Gets Bail Under PMLA: Delhi High Court
The Delhi High Court has granted bail to a woman accused under the Prevention of Money Laundering Act, 2002 (PMLA), noting that she was neither chargesheeted by the police nor summoned by the Magistrate in the predicate offence.Justice Swarana Kanta Sharma observed,“the record reflects that the applicant was not found culpable at the stage of police investigation, nor was any prima facie case found against her by the learned Magistrate in the private complaint proceedings.”Applicant Sandeepa...