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The ED has filed a case against Kerala Chief Minister Pinarayi Vijayan's daughter under the Prevention of Money Laundering Act

 ED files money laundering case against Kerala CM's daughter, her IT company

The ED has filed a case against Kerala Chief Minister Pinarayi Vijayan's daughter under the Prevention of Money Laundering Act

The Enforcement Directorate has filed a money laundering case against Kerala Chief Minister Pinarayi Vijayan's daughter Veena Vijayan, her IT company and some others to probe a case of alleged illegal payments made by a private mineral firm to her and the company, official sources said Wednesday.
The agency has registered a case under the Prevention of Money Laundering Act (PMLA) and is expected to summon the people involved, the sources said.
The ED case has been booked after taking cognisance of a complaint filed by the Serious Fraud Investigation Office (SFIO), an investigative arm of the Union corporate affairs ministry, they said.
The case stems from an Income Tax Department investigation that alleged that a private company called Cochin Minerals And Rutile Ltd (CMRL), made an illegal payment of Rs 1.72 crore to Veena's company-- Exalogic Solutions-- during 2018 to 2019, even though the IT firm had not provided any service to the company.
The Karnataka High Court had last month dismissed a plea filed by Exalogic Solutions against the probe initiated by the SFIO.&nbsp;

Crypto trading and all related financial services will now come under the PMLA (Prevention of money laundering act). This is as per a notification issued by the finance ministry. 

Crypto transactions brought under money laundering law 

Crypto trading and all related financial services will now come under the PMLA (Prevention of money laundering act). This is as per a notification issued by the finance ministry.&nbsp;

The government has imposed anti-money laundering provisions on cryptocurrencies or virtual assets as it looks to tighten oversight of digital assets.
In a gazette notification, the Finance Ministry said the anti-money laundering legislation has been applied to crypto trading, safekeeping and related financial services.
After this, Indian crypto exchanges will have to report suspicious activity to the Financial Intelligence Unit India
The move is in line with the global trend of requiring digital-asset platforms to follow anti-money laundering standards similar to those followed by other regulated entities like banks or stock brokers.
Digital currency and assets like NFTs (non-fungible tokens) have gained traction globally over the last couple of years. Trading in these assets has increased manifold with cryptocurrency exchanges being launched. However, India till last year, did not have a clear policy on either regulating or taxing such asset classes.
The notification said, "Exchange between virtual digital assets and fiat currencies, exchange between one or more forms of virtual digital assets, transfer of virtual digital assets, safekeeping or administration of virtual digital assets or instruments enabling control over virtual digital assets, and participation in and provision of financial services related to an issuer's offer and sale of a virtual digital asset" will be now be covered by Prevention of Money-laundering Act, 2002.
Virtual digital assets were defined as any code or number or token generated through cryptographic means with the promise or representation of having inherent value.
Last month, Finance Minister Nirmala Sitharaman told Parliament that India was discussing with the G-20 member countries the need to develop a standard operating protocol for regulating crypto assets.
She had said crypto assets and Web3 are relatively new and evolving sectors and require significant international collaboration for any specific legislation on these sectors to be fully effective.
Crypto assets are by definition borderless and require international collaboration to prevent regulatory arbitrage. Therefore, any legislation for regulation or for banning can be effective only with significant international collaboration on the evaluation of the risks and benefits and evolution of common taxonomy and standards.
In the Budget for 2022-23, she had brought a 30 per cent tax on income from transactions in such assets. Also, to bring such assets under the tax net, she introduced a 1 per cent TDS (tax deducted at source) on transactions in such asset classes above a certain threshold. Gifts in crypto and digital assets were also taxed.

The properties belong to Lingaraj Jena, the former 'safei mohareer' (cleaning assistant), posted in the office of the additional sub-collector (settlement) in Puri district.

ED attaches assets worth Rs 1.88 crore of former Odisha govt cleaning staffer in PMLA case

The properties belong to Lingaraj Jena, the former 'safei mohareer' (cleaning assistant), posted in the office of the additional sub-collector (settlement) in Puri district.

Assets worth Rs 1.88 crore of a former cleaning assistant working with the Odisha government have been attached under the anti-money laundering law, the Enforcement Directorate (ED) said Wednesday.
The properties belong to Lingaraj Jena, the former 'safei mohareer' (cleaning assistant), posted in the office of the additional sub-collector (settlement) in Puri district.
The money laundering case of the ED stems from a case of alleged possession of disproportionate assets filed by the Odisha vigilance directorate against Jena.
The charge sheet filed by the vigilance directorate said Jena had "illicitly enriched" himself and his family members by acquiring assets disproportionate to his known sources of income, totalling Rs 1.88 crore.
The ED probe in the case registered under the Prevention of Money Laundering Act (PMLA) found that Jena "acquired monetary proceeds through indulgence in criminal activities, concealed it and invested the same in the acquisition of various assets."&nbsp;
Also Watch| <a href="https://www.editorji.com/india-news/ed-arrests-chhattisgarh-cm-s-deputy-secretary-in-money-laundering-case-1669991422502">ED arrests Chhattisgarh CM's deputy secretary in money laundering case</a>

The Supreme Court on Wednesday upheld the Enforcement Directorate’s power to inquire, arrest, and attach property under the Prevention of Money Laundering (PMLA) Act. It also specified that it is not mandatory for the probe agency to give an Enforcem

Supreme Court upholds Enforcement Directorate's power to arrest in money laundering cases 

The Supreme Court on Wednesday upheld the Enforcement Directorate’s power to inquire, arrest, and attach property under the Prevention of Money Laundering (PMLA) Act. It also specified that it is not mandatory for the probe agency to give an Enforcement Case Information Report (ECIR) in every case to the person concerned. 

Supreme Court upholds ED's power to arrest in money laundering cases 

A bench headed by Justice AM Khanwilkar delivered the verdict on a batch of petitions challenging ED's process of arrest, seizure and investigation as well as its interpretation of certain provisions of the PMLA.&nbsp;

The Supreme Court on Wednesday upheld the Enforcement Directorate&rsquo;s power to inquire, arrest, and attach property under the Prevention of Money Laundering (PMLA) Act. It also specified that it is not mandatory for the probe agency to give an Enforcement Case Information Report (ECIR) in every case to the person concerned.
A bench headed by Justice AM Khanwilkar delivered the verdict on a batch of petitions challenging ED's process of arrest, seizure and investigation as well as its interpretation of certain provisions of the PMLA.
It is enough if the Enforcement Directorate (ED) discloses grounds at the time of arrest,&nbsp; Justice A M Khanwilkar.&nbsp;
Also Watch| <a href="https://www.editorji.com/india-news/in-17-years-ed-filed-over-5400-money-laundering-cases-secured-conviction-against-23-people-1658823911846" target="_blank" rel="noopener">In 17 years, ED filed over 5400 money laundering cases; secured conviction against 23 people</a>
The top court upheld the constitutionality of the provisions of Sections 5, 8(4), 15, 17 and 19 of the PMLA, which relate to ED's power of arrest, attachment and search and seizure.
In response to petitioners arguments that the "twin conditions" for bail in money laundering cases were very stringent, the bench affirmed the validity of this&nbsp; provision. It said the twin provisions for bail under the Act are legal and not arbitrary.

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