PMLA Act - Threadbare Analysis!

Episode Duration:
120 minutes

Episode Background:
Over the last few years, one would have noticed an unmistakable trend of Government turning the heat when it comes to economic crimes and economic crime offenders. From CBI to Enforcement Directorate to SFIO to the State level Economic Offences Wing of the Police, not only individuals but even corporate houses have come under the scanner of these investigating agencies. One of the buzz words today in the world of economic crimes is "money laundering". 

'The Prevention of Money Laundering Act' (PMLA), 2002 was enacted in India in January, 2003, and the said Act along with the Rules framed thereunder have come into force with effect from 1st July, 2005. The PMLA Act seeks to combat the menace of money laundering in India and has three main objectives, (i) to prevent and control money laundering; (ii) to confiscate and seize the property obtained from the laundered money; and (iii) to deal with any other issue connected with money laundering in India.

What shall the episode cover?
In this regard, Taxsutra is glad to present a special episode on “PMLA,2002 – Government’s Magic Wand against Launderers of Illegal Money?” in association with premier law firm “Vaish Associates”. In this episode, Advocate Kavita Jha [Partner, Vaish Associates] has analysed the basic concepts and principles under the PMLA, while also touched upon several aspects/concepts dealing with money laundering cases, few of which are outlined as below:

• Investigation, Arrest and Bail under PMLA
• Adjudication under PMLA
• Attachment and Confiscation of Property
• Recent Case Laws / case studies
• Interplay of PMLA with other laws including Black Money Act, 2015, Insolvency and Bankruptcy Code, etc.

The session has also witnessed a special address by eminent  lawyer, Sr. Adv. Kapil Sibal, who has shared his experiences while dealing with money laundering cases.