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Session on PMLA risks – The dos & don’ts for industry


The Prevention of Money Laundering Act, 2002 (PMLA), India’s anti money laundering law, is much in news, particularly since the Hon’ble Supreme Court has recently upheld constitutionality of wide powers given to the Directorate of Enforcement (ED).

The list of predicate offences based on which PMLA can be invoked is very long. The list also sweeps in offences which are regularly alleged against corporates, even in contractual disputes, and would normally not warrant a PMLA interference. Further, the far reaching attachment powers of the ED have brought in corporates within the cross hairs of PMLA, despite having purchased properties through court/ legal proceedings.

Not only is the possibility of exposure for penalisation substantial under PMLA, but there is also a tussle to enforce rights over properties under attachment. The increase in raids and arrests under PMLA also makes it imperative for industry to understand and assess PMLA risk and know the basic ‘dos and don’ts in the unfortunate event of a raid or an attachment during the PMLA investigation.   

CII has partnered with AZB & Partners to bring you a focussed session on “PMLA Risks – The Dos & Don’ts for Industry” on 12 October 2022.

The discussions will be led by AZB’s Senior Partners, Vinati Kastia and VP Singh.

Broad issues for discussion during the session are as under:

Brief explanation of the legal framework including highlights from the Vijay Madanlal Case;

Situations where PMLA risk can arise;

Dawn raids and ED investigations – dos & don’ts;

Attachment of properties & Assets – what to expect.

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