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

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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