It is fact that the criminals who commit any types of offence should be punishable with rigorous imprisonment that may be occurred for the period of at least 7 years. The offence has to deposit the fine of five lakh rupees as the penalty if he commits any types of crime under it. The main purpose of ED/PMLA cases is to hold the cases that prevent the transfer of the origins of illegal obtained money through the source of foreign banks as well as legitimate businesses.
Under the property and money laundering act & other ED issues, lawyers from JPV Law Associates provide temporary orders to confiscate and seize the property of the accused even before the final proceedings at the court. Moreover, this arbitrary application is not worth the effect in all situations. The Court does not permit ED to use this special section under PMLA case to be trigger happy to enhance the interim possession of the valuable properties/assets without showing the strong grounds. So our lawyers have to provide all evidence in the front of Supreme Court.
In this connection, lawyers from JPV Law Associates has given the list of ED/PMLA cases concerning the interim possession of the property under 8/4 section without extensive clarification. Afterwards the bench of the jury of Supreme Court has showcased its firmness to maintain fairness in giving the judgment regarding the inappropriate application of the special PMLA act to confiscate the property.
Then the higher authority is clear in its stand to explain what to do. It needs deeper analysis to spot the reasons for property confiscation under PMLA. In this way, ED has the limited power to apply for immediate response leading to the interim possession of the property before the final judgment.
The Supreme Court division bench has declared a provisional stoppage on the trial of ED under section 8(4) PMLA controlling the power of ED to seize or confiscate the property before the final declaration of verdict of the judge. Apart from that, Chief Justice of India – NV Ramana- has stated in his speech that ED and its legal wings should not be whimsical to take the action for the property seizure before the trial or proceeding.
Money laundering is the process of creating large amount of money by involving in different types of criminal activities. There are many illegal activities such as drug trafficking & terrorist funding that creates huge money from the legitimate source. The money that came from the criminal activity is known to be as dirty money. This dirty money appears to be like clean money. This process of collecting dirty money by illegal sources is called as Money Laundering Act.
PMLA Money Laundering act prevents the offender to earn money by performing illegal acts. JPV Law Associates lawyers are talented & having experience of PMLA Cases. Our lawyers have already handling various types of legal cases at the different stages. Our lawyers have achieved the remarkable record in winning the PMLA cases.
