Money laundering Act

[ad_1] The Enforcement Directorate has arrested three vivo-India executives in connection with its money laundering probe against the Chinese smartphone-maker and some others, official sources said on Saturday.Interim CEO of vivo-India Hong Xuquan alias Terry, Chief Financial Officer (CFO)Harinder Dahiya and consultant Hemant Munjal have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA), they said. We are now on WhatsApp. Click to join. The federal agency had earlier arrested four people -- mobile company Lava International's MD Hari Om Rai, Chinese national Guangwen alias Andrew Kuang, and chartered accountants Nitin Garg and Rajan Malik -- in the case. They are in judicial custody at present.The ED had filed a charge-sheet against these four...

[ad_1] New Delhi: The stringent law against money laundering, which received a thumbs up from the Supreme Court recently, will be up for review again, with the top court agreeing to hear a petition that has challenged the judgment. The hearing will be held tomorrow.In a judgment last month, the court had upheld the Enforcement Directorate's extensive powers to search, seize and arrest, which were challenged in multiple petitions. The petitioners had argued that these powers were mostly misused, especially in cases where opposition leaders are involved.The 250-odd petitioners had also argued that handing an agency unchecked powers of arrest where the accused may not be informed about reason or evidence, is unconstitutional. They also contended that the use of statements in court recorded ...

Tag: Money laundering Act

Enforcement Directorate arrests three vivo-India executives in money laundering probe

Money Laundering Act Verdict To Be Reviewed By Supreme Court Tomorrow