ED Suspects Bineesh Kodiyeri, Son Of Kerala CPI(M) Secretary, Laundered Money From Dubai [Read Application]

The Enforcement Directorate suspects that Bineesh Kodiyeri, the son of Kerala CPI(M) leader Kodiyeri Balakrishnan, was involved in money laundering while he was settled in Dubai between the year 2008 to 2013, where he was involved in a bank fraud case. ED has made this allegation in its remand report which was submitted before the special court on Monday, seeking extension of custody of Bineesh, which was granted till November 7. The report further states that during investigation it...

Karnataka HC Grants Bail To Prime Accused Mansoor Khan In IMA Money Laundering Case [Read Order]

The Karnataka High Court recently granted bail to Mohammad Mansoor Khan, prime accused in the 'I Monetary Advisory' (IMA) scam in a case registered with the Enforcement Directorate. Justice SREENIVAS HARISH KUMAR has granted bail to the accused on health grounds. It took into consideration that Khan has been a diabetic since the year 2013, suffering from hyper tension since the year 2010 and has cardiac problems and has also been suffering from degenerative spondylosis since October 2018.It...

Delhi Court Takes Cognizance Of Offences Under Prevention Of Money Laundering Act, Against Delhi Riots Accused Tahir Hussain [Read Order]

On Saturday (17th October) Karkardooma Court (Delhi) took cognizance of the offence under Section 3 read with Section 70, punishable under Section 4 of PMLA, 2002 against Delhi Riots Accused and suspended Aam Aadmi Party councillor Tahir Hussain and one Amit Gupta.Significantly, the Enforcement Directorate on Saturday filed a Complaint against Tahir under Section 44 & 45 of Prevention of Money Laundering Act, 2002 for commission of the offence of money laundering as defined under Section 3...

ICICI -Videocon Case: Delhi HC Seeks ED Response On Deepak Kochhar's Plea For Interim Bail

The Delhi High Court on Thursday sought the response of the Enforcement Directorate to the plea made by Deepak Kochhar in the ICICI-Videocon case under the Prevention of Money Laundering Act.The petitioner was represented by Sr. Adv. Mukul Rohatgi while the Enforcement Directorate (ED) was represented by Adv. Amit Mahajan. The court passed an order for filing of a status report by the Enforcement Directora on jurisdictional maintainability of the current writ petition challenging the arrest...

[Vijay Mallya-UBL] 'Not Case Where Company Needs To Be Wound Up As Assets Exceed Outstanding Liability', SC Told; All Appeals To Be Heard On Oct 8

The Supreme Court on Wednesday deferred to October 8 the hearing on the challenge by Vijay Mallya's United Breweries against the Karnataka High Court upholding the order of its winding up.The bench of Justices U. U. Lalit, Vineet Saran and Ravindra Bhat shall also examine whether attached assets of fugitive Mallya's United Breweries (Holding) Ltd. can be used to settle the debts owed to banks, including the State Bank of India."The response of the banks has been received...the basic question is...

"Country In Unlock,Trial Courts Must Commence/ Continue Trials In POCSO, Rape, Negotiable Instruments, PMLA Cases Etc": Calcutta HC

The Calcutta High Court expressed concern over the lack of progress in trial proceedings particularly in cases where one or more accused is in custody for a protracted period of time and stated that the same is not desirable.On Thursday a Division Bench comprising of Justices Joymalya Bagchi and Suvra Ghosh directed the trial courts to commence/continue trial proceedings either via physical mode or hybrid/video conferencing mode, as they may consider it appropriate, and upon following...

Bonafide Purchaser And White Collar Crimes

The scourge of financial crimes has seen a rapid growth where an act/omission leads to illegal gains and ends with laundering of the illegal money to be portrayed as untainted. Money laundering involves a thick web of transactions with the objective of introducing the money in the financial system without the same being identified as illegal. Once in the financial system, they would lose the character of being illegal and can be used in ordinary business. Many a times innocent buyers...

Religare Finvest Case : SC Orders Status Quo On Release Of Shivinder Mohan Singh In ED's Challenge

The Supreme Court on Friday ordered status quo on the release of former Fortis Healthcare promoter Shivinder Mohan Singh in a challenge made by the Enforcement Directorate against the order of Delhi High Court granting him bail."Until further orders, status quo with respect to release from jail be maintained and impugned Judgment not to be treated as a precedent for any other case", ordered a bench headed by Justice Arun Mishra, issuing notice on ED's petition.On July 23, the Delhi High...

Religare Finvest: Delhi HC Grants Bail To Shivinder Mohan Singh

The Delhi High Court on Thursday granted bail to Fortis Healthcare promoter Shivinder Mohan Singh in a money laundering case against him. The Single Bench of Justice Anup Jairam Bhambhani has directed Shivinder Mohan Singh to furnish a personal bond of ₹1 crore and two sureties of ₹25 lacs each. In addition to this, Singh has also been directed to surrender his passport. Shivinder Mohan Singh is accused of money laundering as per the offences laid down in sections...

Money Laundering An Act Of Financial Terrorism, Poses Threat To Sovereignty, Integrity Of Nation: Orissa HC [Read Order]

"The offence of Money Laundering is nothing but an act of financial terrorism that poses a serious threat not only to the financial system of the country but also to the integrity and sovereignty of a nation", observed the Orissa High Court on Monday. Justice S. K. Panigrahi was hearing a bail plea of a director of a company, accused of involvement in laundering of sums of money accumulated under "a bodacious Ponzi scheme (floated by another company, namely, M/s. Fine Indisales Pvt. Ltd),...

Chhattisgarh HC Denies Interim Relief To Bureaucrat In Money Laundering Case [Read Order]

The Chhattisgarh High Court on Tuesday refused to grant interim relief to lok Shukla, former IAS and Principal Secretary to the Department of Parliamentary Affairs, Chhattisgarh, in the Enforcement Case Information Report (ECIR) registered against him for money laundering. The division bench of Chief Justice PR Ramachandra Menon and Justice Parth Prateem Sahu granted two weeks time to the Directorate of Enforcement to file a detailed reply but expressed its disinclination to grant any...

Chhattisgarh HC Issues Notice To ED On Plea Challenging Constitutionality Of Provisions Of Arrest Under PMLA & Seeking Quashing Of ECIR Lodged Against Bureaucrats [Read Petition]

The Chhattisgarh High Court has issued notice to the Directorate of Enforcement on a petition challenging various provisions of the Prevention of Money Laundering Act, 2002, relating to arrest, as ultra vires the Constitution. The said plea also seeks quashing of the Enforcement Case Information Report (ECIR) registered against the Petitioner namely Alok Shukla, former IAS and Principal Secretary to the Department of Parliamentary Affairs, Chhattisgarh, allegedly for money-laundering. ...