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Bombay High Court Dismisses Petition Challenging PMLA Attachment Orders for Non-Prosecution. Petitioners failed to appear or file written submissions despite multiple adjournments, leading to dismissal for default.

The petitioners, Krishna Shantaram Chamankar, Prasanna Shantaram Chamankar, and K.S. Chamankar Enterprises, filed a writ petition under Article 226 of...

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Supreme Court Partially Allows Appeal in Recovery Suit Against Sick Industrial Company — Suspension of Proceedings Under Section 22(1) of SICA Does Not Bar Suit for Unadmitted Debt. High Court's Grant of 24% Compound Interest Reduced to 12% Simple Interest.

The case involves a dispute between Fertilizer Corporation of India Ltd. (FCIL), a public sector undertaking, and M/s Coromandal Sacks Private Limited...

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Bombay High Court Grants Bail to Sub-Divisional Officer in PMLA Case Alleging Illegal NA Permission in CRZ Area. The court held that the applicant satisfied the twin conditions under Section 45 of PMLA and was entitled to bail under Section 439 CrPC.

The applicant, Jayram Vinayak Deshpande, was the Sub-Divisional Officer at Dapoli and was arrested on 13/03/2023 in connection with ECIR No. ECIR/MBZO...

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Bombay High Court Grants Bail to Sub-Divisional Officer in PMLA Case for Allegedly Granting NA Permission in CRZ Area. The court held that the twin conditions under Section 45 PMLA were satisfied as there was no prima facie evidence of money laundering beyond the scheduled offence.

The applicant, Jayram Vinayak Deshpande, was a Sub-Divisional Officer at Dapoli who granted NA permission for land in Gat No. 446 at Murud, which fell...

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Bombay High Court Grants Bail to Former Home Minister in PMLA Case — Twin Conditions Under Section 45 Not Satisfied. Applicant held entitled to bail as ED failed to demonstrate reasonable grounds for believing applicant guilty of money laundering under PMLA.

The applicant, Anil Vasantrao Deshmukh, a former Home Minister of Maharashtra, filed a bail application under the Prevention of Money Laundering Act, ...

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Supreme Court Upholds Penalty on Managing Director in FEMA Violation Case — Failure to Complete Import Formalities Constitutes Continuing Offence. Liability under Section 10(6) of FEMA, 1999 attaches to person responsible for conduct of business regardless of change in management.

The appeal arose from complaint proceedings initiated by the Enforcement Directorate under Section 16(3) of the Foreign Exchange Management Act, 1999 ...

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Supreme Court Upholds Union of India in Section 17A Challenge — Prior Approval Requirement for Investigating Public Servants is Constitutionally Valid. Read Down to Mandate Independent Screening; Lokpal to Approve for Covered Public Servants.

The writ petition was filed by the Centre for Public Interest Litigation challenging the constitutional validity of Section 17A of the Prevention of C...