A Practical Guide to the Prevention of Money Laundering Act, 2002 (3rd Edition, 2025)
- Year of Publication: 2025
- Edition: 3rd
- ISBN: 9789356036925
- No.of Pages: 608
The Prevention of Money Laundering Bill, 1998, was introduced in Parliament in August 1998. It was followed by the revised Bill, 1999 which finally resulted in the enactment of the Prevention of Money Laundering Act, 2002. It ultimately came into force w.e.f. 1-7-2005. Its main object is to prevent money-laundering and to confiscate the property derived from or involved in money-laundering and to prosecute the offenders, who commit the offence of money-laundering.
It was felt that there is a lack of awareness and clarity relating to the application of Prevention of Money Laundering Act provisions. Accordingly, this book was planned with a view to create awareness amongst all the stake holders. An attempt is made to explain the provisions in a simple and pragmatic manner. Further the FAQs have been included to clarify the general provisions, as well as the debatable issues. It is expected that this book may cater to the needs of businessmen, advocates, CAs, officers and the students following professional courses.
The Prevention of Money Laundering Act, 2002, the Rules, the relevant case laws and a large number of FAQs have all been incorporated in the book at appropriate places. In the last two years, many important judgments have been delivered, particularly on the subject of granting bail by the various courts. Accordingly it was decided to bring the third edition of this book to incorporate necessary changes in the book.
Sunil Kumar Gupta is the Founder of SARC Associates and a Fellow Member of the Institute of Chartered Accountants of India (ICAI). He holds a Post Qualification Diploma in Information Systems Audit (DISA) and is a certified Forensic Auditor holding “Forensic Accounting & Fraud Detection” (FAFD) certificate and a certificate in “Anti-Money Laundering Laws”, issued by ICAI. He is also the Life Member of the Indian Council of Arbitration (ICA) and on the Panel of Arbitrators maintained by ICA & ICAI and Member of the Institute of Certified Public Accountants of Uganda (CPA-U).
He is the Co-founder of multinational business forum Indo European Business Forum (IEBF) and possesses experience of over 37 years in fields of Corporate Financing, Taxation, Banking, Education, Investment, Development and Project Implementations. He has also been a part of numerous international delegations and has participated in a number of international conferences. Mr. Gupta is associated with various Government Authorities, as a Consultant for Income Tax and GST matters, like Northern Railways (NR), Delhi Development Authority, DGH (Ministry of Petroleum and Natural Gas, Govt. of India), New Okhla Industrial Development Authority (NOIDA), Greater Noida Industrial Development Authority (GNIDA), Yamuna Expressway Industrial Development Authority (YEIDA).
Mr. Sunil Kumar Gupta has authored more than eight books with a key focus on the growth of the Indian Economy, encouraging ease of doing business in the country among businessmen and practicing professionals about the various laws of the land. Apart from these, he has also written articles in International Magazines, Research Reports and Handbooks that were released at Multinational Business Forums describing India’s developing economy and foreign investment as well as creating awareness regarding different recent laws, etc.
Pawan Singh Tomar is a retired IRS Officer. who worked as Principal Commissioner of Income Tax at karnal, Panchkula and Delhi. He had the flair to work in the investigation wing and has been one of the most efficient and experienced officers. He has been also known in the department for his honesty, soft skill pragmatic approach and motivating his juniors.
He held diverse assignment in the income tax Department and has also worked as under secretary in the ministry. Amongst other assignment, he worked for 6 years in Investigation wing (Delhi), 4 Years in Directorate of Vigilance, 5 Years as Zonal Director, Narcotics Control Bureau, Ahmedabad and 4 years as Additional Commissioner in M.C.D.
Commercial LAW PUBLISHERS (INDIA) PVT. LTD. which is in the legal publishing business for nearly three decades is now one of the top ranking legal publishers in India–recognized and accepted by diverse professionals and business entities as well as Government Departments in view of the high quality, practical utility as well as diversity in subjects on which it brings out Books. It has the powerful backing of its vast exposure as the leading Books Distributor All over India for over 45 years. From just a couple of titles during the first few years of its publishing activity, Commercial has now around 200 titles and over 350 Bare Acts & Manuals in the field of Direct Indirect Taxes, Corporate Law and Civil/Criminal Laws. It successfully launched the Bare Acts project in the year 1996 and has so far brought out over 350 updated Bare Acts. These are much sought after since these Bare Acts are annotated ones containing notes and brief comments, thus enhancing their utility. Commercial has been bold enough to bring out Books, Commentaries and Referencers on hitherto untouched subjects like Legal Metrology. It has a record number of publications on Income Tax, Company Law, Customs, GST and Students Publications for CA & CS by bringing out high quality publications at affordable prices and is an highly ethical business enterprise. Commercial has withstood the market competition successfully over the years including competition from Foreign publishers and strives its best to serve the legal and corporate professionals better and better every day with its novel ideas and business strategy. Commercial is backed by a team of highly competent in-house professional experts supplemented by high profile authors who have stood by it for decades.
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- Year of Publication: 2025
- Edition: 3rd
- ISBN: 9789356036925
- No.of Pages: 608
The Prevention of Money Laundering Bill, 1998, was introduced in Parliament in August 1998. It was followed by the revised Bill, 1999 which finally resulted in the enactment of the Prevention of Money Laundering Act, 2002. It ultimately came into force w.e.f. 1-7-2005. Its main object is to prevent money-laundering and to confiscate the property derived from or involved in money-laundering and to prosecute the offenders, who commit the offence of money-laundering.
It was felt that there is a lack of awareness and clarity relating to the application of Prevention of Money Laundering Act provisions. Accordingly, this book was planned with a view to create awareness amongst all the stake holders. An attempt is made to explain the provisions in a simple and pragmatic manner. Further the FAQs have been included to clarify the general provisions, as well as the debatable issues. It is expected that this book may cater to the needs of businessmen, advocates, CAs, officers and the students following professional courses.
The Prevention of Money Laundering Act, 2002, the Rules, the relevant case laws and a large number of FAQs have all been incorporated in the book at appropriate places. In the last two years, many important judgments have been delivered, particularly on the subject of granting bail by the various courts. Accordingly it was decided to bring the third edition of this book to incorporate necessary changes in the book.
Sunil Kumar Gupta is the Founder of SARC Associates and a Fellow Member of the Institute of Chartered Accountants of India (ICAI). He holds a Post Qualification Diploma in Information Systems Audit (DISA) and is a certified Forensic Auditor holding “Forensic Accounting & Fraud Detection” (FAFD) certificate and a certificate in “Anti-Money Laundering Laws”, issued by ICAI. He is also the Life Member of the Indian Council of Arbitration (ICA) and on the Panel of Arbitrators maintained by ICA & ICAI and Member of the Institute of Certified Public Accountants of Uganda (CPA-U).
He is the Co-founder of multinational business forum Indo European Business Forum (IEBF) and possesses experience of over 37 years in fields of Corporate Financing, Taxation, Banking, Education, Investment, Development and Project Implementations. He has also been a part of numerous international delegations and has participated in a number of international conferences. Mr. Gupta is associated with various Government Authorities, as a Consultant for Income Tax and GST matters, like Northern Railways (NR), Delhi Development Authority, DGH (Ministry of Petroleum and Natural Gas, Govt. of India), New Okhla Industrial Development Authority (NOIDA), Greater Noida Industrial Development Authority (GNIDA), Yamuna Expressway Industrial Development Authority (YEIDA).
Mr. Sunil Kumar Gupta has authored more than eight books with a key focus on the growth of the Indian Economy, encouraging ease of doing business in the country among businessmen and practicing professionals about the various laws of the land. Apart from these, he has also written articles in International Magazines, Research Reports and Handbooks that were released at Multinational Business Forums describing India’s developing economy and foreign investment as well as creating awareness regarding different recent laws, etc.
Pawan Singh Tomar is a retired IRS Officer. who worked as Principal Commissioner of Income Tax at karnal, Panchkula and Delhi. He had the flair to work in the investigation wing and has been one of the most efficient and experienced officers. He has been also known in the department for his honesty, soft skill pragmatic approach and motivating his juniors.
He held diverse assignment in the income tax Department and has also worked as under secretary in the ministry. Amongst other assignment, he worked for 6 years in Investigation wing (Delhi), 4 Years in Directorate of Vigilance, 5 Years as Zonal Director, Narcotics Control Bureau, Ahmedabad and 4 years as Additional Commissioner in M.C.D.
Commercial LAW PUBLISHERS (INDIA) PVT. LTD. which is in the legal publishing business for nearly three decades is now one of the top ranking legal publishers in India–recognized and accepted by diverse professionals and business entities as well as Government Departments in view of the high quality, practical utility as well as diversity in subjects on which it brings out Books. It has the powerful backing of its vast exposure as the leading Books Distributor All over India for over 45 years. From just a couple of titles during the first few years of its publishing activity, Commercial has now around 200 titles and over 350 Bare Acts & Manuals in the field of Direct Indirect Taxes, Corporate Law and Civil/Criminal Laws. It successfully launched the Bare Acts project in the year 1996 and has so far brought out over 350 updated Bare Acts. These are much sought after since these Bare Acts are annotated ones containing notes and brief comments, thus enhancing their utility. Commercial has been bold enough to bring out Books, Commentaries and Referencers on hitherto untouched subjects like Legal Metrology. It has a record number of publications on Income Tax, Company Law, Customs, GST and Students Publications for CA & CS by bringing out high quality publications at affordable prices and is an highly ethical business enterprise. Commercial has withstood the market competition successfully over the years including competition from Foreign publishers and strives its best to serve the legal and corporate professionals better and better every day with its novel ideas and business strategy. Commercial is backed by a team of highly competent in-house professional experts supplemented by high profile authors who have stood by it for decades.
