- Author(s): Dr. Dilip K Sheth
- Publisher: Snow White Publications Pvt Ltd
- Edition: 1 Ed Aug. 2021
- ISBN 13 9789390740499
- Approx. Pages 960 + Contents
- Format Hardbound
- Approx. Product Size 24 x 16 cms
- Delivery Time Normally 7-9 working days
- Shipping Charge Extra (see Shopping Cart)
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Description
It all started in March 2020. I was undergoing home-confinement owing to Covid pandemic lockdown restrictions. Going back to office was a distant possibility. The three to four hours a day saved everyday by dispensing with daily commute from my residence to office was the principal gain in this unusual disappointing scenario.
My thoughts were focussed on how best to use this saved time. I gradually realised that it was opportune time to take up incisive study of PMLA - a law that had recently started gaining importance as observed from frequent news reports of businessmen and others booked for offences punishable under PMLA. This is how my work on this Treatise commenced.
Need for this Treatise
By and large, the deleterious effects of money-laundering which the Government has been trying to eliminate consist of corruption and bribery in economic sectors and financial institutions, increase in criminal activities with of proceeds of crime, fall in the Government revenues leading to a impact on our economy and the use of illicit money to destabilize political institutions.
It is to counter these effects of money-laundering that PMLA was enacted and has been amended from time to time.
It is to counter these effects of money-laundering that PMLA was enacted and has been amended from time to time.
In 2011, Supreme Court1 had expressed its concern about damaging effect of money-laundering. The concern of the Supreme such as, the nature of activities that the in terms of concentration of economic power,
Use of such monies unlawful activities mat are extremely dangerous to the nation the nature and intensity of cross-border criminal activity which may pose a serious threat to the integrity and sovereignty of India.
The need for deep study of PMLA was perceived from critical review of the following material:
• Notes on clauses of Prevention of Money-Laundering Bill, 1999.
• Observations in the Report of Parliamentary Committee on Prevention of Money-laundering Bill, 1999.
• Notes on clauses of Prevention of Money-Laundering (Amendment) Act, 2005, 2009, 2012, Finance Act,
2015, 2016, 2018, 2019, Finance (No. 2) Act, 2019.
• Amendments made in PMLA by Aadhaar and Other Laws (Amendment) Act, 2019.
2015, 2016, 2018, 2019, Finance (No. 2) Act, 2019.
• Amendments made in PMLA by Aadhaar and Other Laws (Amendment) Act, 2019.
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Contents
Part 1
The Prevention of Money-Laundering Act, 2002
Chapter I : Preliminary
Chapter II : Offence of Money-Laundering
Chapter III : Attachment, Adjudication and Confiscation
Chapter IV : Obligations of Banking Companies, Financial Institutions and Intermediaries
Chapter V : Summons, Searches and Seizures, etc.
Chapter VI : Appellate Tribunal
Chapter VII : Special Courts
Chapter VIII : Authorities
Chapter IX : Reciprocal Arrangement for Assistance in Certain Matters and Procedure
for Attachment and Confiscation of Property
Chapter X : Miscellaneous
Part 2
Appendices
Part 1
The Prevention of Money-Laundering Act, 2002
Chapter I : Preliminary
Chapter II : Offence of Money-Laundering
Chapter III : Attachment, Adjudication and Confiscation
Chapter IV : Obligations of Banking Companies, Financial Institutions and Intermediaries
Chapter V : Summons, Searches and Seizures, etc.
Chapter VI : Appellate Tribunal
Chapter VII : Special Courts
Chapter VIII : Authorities
Chapter IX : Reciprocal Arrangement for Assistance in Certain Matters and Procedure
for Attachment and Confiscation of Property
Chapter X : Miscellaneous
Part 2
Appendices
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Author Details
Dr. Dilip K Sheth, B.Com (Rons.) F.C.A., LL.M., Ph.D. (Law) has been in professional practice for over four decades. For last twenty-five years, he is engaged in chamber practice in which he has advised foreign companies, foreign banks, collaborators, Indian corporate sector, NRIs, eminent firms of chartered accountants, and eminent firms of lawyers and solicitors, who have sought his advice on matters involving dicey issues on FERA, FEMA, Benami Law, Real Estate Regulation Act (RERA), Prevention of Money Laundering Act (PMLA), International Taxation, Corporate Laws including SEBI and Securities Contracts (Regulation) Act, foreign collaborations, non-resident investments, joint ventures, business and corporate planning, business valuations, International arbitration, and a host of legal and Constitutional matters.
Dr. Dilip K Sheth, B.Com (Rons.) F.C.A., LL.M., Ph.D. (Law) has been in professional practice for over four decades. For last twenty-five years, he is engaged in chamber practice in which he has advised foreign companies, foreign banks, collaborators, Indian corporate sector, NRIs, eminent firms of chartered accountants, and eminent firms of lawyers and solicitors, who have sought his advice on matters involving dicey issues on FERA, FEMA, Benami Law, Real Estate Regulation Act (RERA), Prevention of Money Laundering Act (PMLA), International Taxation, Corporate Laws including SEBI and Securities Contracts (Regulation) Act, foreign collaborations, non-resident investments, joint ventures, business and corporate planning, business valuations, International arbitration, and a host of legal and Constitutional matters.