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SUPREME COURT HOLDS MONEY LAUNDERING HAS TO BE RECORDED UNDER THE PREVENTION OF MONEY LAUNDERING ACT, 2002

The Three Judge Bench of the Hon’ble #SupremeCourt of India comprising of Justices S.A. Bobde, A.S.Bopanna and V. Ramasubramanian passed a Judgment dated 03.02.2021 in the case of OPTO Circuit India Ltd. v. Axis Bank & Ors. {CRIMINAL APPEAL NO.102 OF 2021 (Arising out of SLP (Criminal) No.4171 of 2020)} and held that before directing the freezing of #BankAccounts under the Prevention of Money Laundering Act, 2002 (the Act), 2002, a belief of commission of act of #moneylaundering has to be recorded.


To read more, please visit the link below:


http://www.theindianlawyer.in/blog/2021/02/06/supreme-court-holds-money-laundering-has-to-be-recorded-under-the-prevention-of-money-laundering-act-2002/


#supremecourt #moneylaundering #bankaccount

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