Amendments proposed to Prevention of Money Laundering Act, 2002

The major amendments proposed to Prevention of Money-laundering Act, 2002 through Finance Act, 2018 are as follows : Amendment in definition of “proceeds of crime” Amendment in bail provisions Corporate frauds included as Scheduled offence Measures to enhance effectiveness of… Continue Reading

Section 45, Prevention of Money Laundering Act, 2002 declared Unconstitutional

In Nikesh Tara Chand Shah versus Union of India Writ Petition (Criminal) 67 of 2017, a Division Bench of the Hon’ble Supreme Court struck down Section 45, Prevention of Money Laundering Act, 2002.  Section 45 was found manifestly arbitrary and providing… Continue Reading