The Law of Prevention of Money Laundering
- Year of Publication: 2020
- Edition: 1st
- ISBN: 9790000000000
The Law of Prevention of Money Laundering critically analyses the Prevention of Money Laundering Act, 2002 (PMLA) in light of the legislative amendments and landmark judicial precedents on the subject. With the increased focus of the regulators in the area of economic offences, PMLA assumes greater importance today with several cases being registered under it.
Explaining the genesis of PMLA, the authors draw reference to the Financial Action Task Force (FATF) Recommendations that triggered the enactment in India. PMLA defines “money laundering” as a criminal offence and sets up the structures to implement, prosecute, adjudge and punish. The various stages in the offence of money laundering have been explained along with the nuances of the PMLA. The authors also discuss the incomparable rigours of PMLA, which brings it in conflict with other statutes including the SARFAESI and the constitutional safeguards against double jeopardy. The book examines the Anti-Money Laundering Norms issued by the Reserve Bank of India and the Securities and Exchange Board of India; and incorporates the Rules issued under the PMLA. It also provides a comparative study between the law in India and other developed jurisdictions including the UK and the USA.
The book will be useful to law firms, individual practitioners, judges, enforcement agencies, researchers and students of law.
Udayan Mukerji is a retired IPS officer and a practicing advocate with specialization in criminal matters, torts, writ petitions, arbitration and contracts. During his career with the IPS, he functioned at various levels dealing with homeland and internal security, communications security and investigations into security deficiencies. He is the recipient of the Indian Police Medal for Meritorious Service and the President’s Medal for Distinguished Service.
R K Naroola is a leading legal practitioner and consultant with over 36 years of experience in advising and representing corporate and individual clients. He has acquired highly specialised experience in Collaborations, Joint Ventures, Banking, Industrial Relations, Labour Law, International Financial Institutions, Foreign Trade, Contract Law and Negotiations. He has been involved in setting up of companies and Joint Ventures both in India and abroad.
OakBridge is a new age information services company established to re-establish the craft of publishing to better-serve the evolved needs of today’s Professionals and Academia. It is uniquely designed to have a strong framework of authoritative and reliable content, ethical and transparent business practices, operational excellence, and an unparalleled customer experience.
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- Year of Publication: 2020
- Edition: 1st
- ISBN: 9790000000000
The Law of Prevention of Money Laundering critically analyses the Prevention of Money Laundering Act, 2002 (PMLA) in light of the legislative amendments and landmark judicial precedents on the subject. With the increased focus of the regulators in the area of economic offences, PMLA assumes greater importance today with several cases being registered under it.
Explaining the genesis of PMLA, the authors draw reference to the Financial Action Task Force (FATF) Recommendations that triggered the enactment in India. PMLA defines “money laundering” as a criminal offence and sets up the structures to implement, prosecute, adjudge and punish. The various stages in the offence of money laundering have been explained along with the nuances of the PMLA. The authors also discuss the incomparable rigours of PMLA, which brings it in conflict with other statutes including the SARFAESI and the constitutional safeguards against double jeopardy. The book examines the Anti-Money Laundering Norms issued by the Reserve Bank of India and the Securities and Exchange Board of India; and incorporates the Rules issued under the PMLA. It also provides a comparative study between the law in India and other developed jurisdictions including the UK and the USA.
The book will be useful to law firms, individual practitioners, judges, enforcement agencies, researchers and students of law.
Udayan Mukerji is a retired IPS officer and a practicing advocate with specialization in criminal matters, torts, writ petitions, arbitration and contracts. During his career with the IPS, he functioned at various levels dealing with homeland and internal security, communications security and investigations into security deficiencies. He is the recipient of the Indian Police Medal for Meritorious Service and the President’s Medal for Distinguished Service.
R K Naroola is a leading legal practitioner and consultant with over 36 years of experience in advising and representing corporate and individual clients. He has acquired highly specialised experience in Collaborations, Joint Ventures, Banking, Industrial Relations, Labour Law, International Financial Institutions, Foreign Trade, Contract Law and Negotiations. He has been involved in setting up of companies and Joint Ventures both in India and abroad.
OakBridge is a new age information services company established to re-establish the craft of publishing to better-serve the evolved needs of today’s Professionals and Academia. It is uniquely designed to have a strong framework of authoritative and reliable content, ethical and transparent business practices, operational excellence, and an unparalleled customer experience.
