The Law of Prevention of Money Laundering takes forward the critical analysis on the subject from its previous edition in light of the judicial developments, including the landmark decision of the Supreme Court in Vijay Madanlal Choudhary v. Union of India & Ors. The authors have attempted to examine in detail the impact of the judgment on the PMLA, especially in light of the differing standard of jurisprudential principles applicable under PMLA and the other criminal statutes in India. In the new edition, a new chapter on the Schedule has also been added.
The chapters in the book are arranged thematically delineating the different aspects of the law against money-laundering. The commentary explains the offence of money-laundering, including its various forms, and key ingredients. The comparative review of the laws in India and other developed jurisdictions including the UK and the USA, along with the reference to the Financial Action Task Force (FATF) Recommendations helps the reader understand the genesis of law in India. The provisions relating to arrest, search, seizure, and adjudication have been discussed in detail, along with the drawbacks that plague the enforcement systems. The book will be useful to law firms, individual practitioners, judges, enforcement agencies, researchers and students of law.
About the Authors:
R K Naroola is a leading legal practitioner and consultant with over 36 years of experience in advising and representing corporate and individual clients. He has acquired highly specialised experience in Collaborations, Joint Ventures, Banking, Industrial Relations, Labour Law, International Financial Institutions, Foreign Trade, Contract Law and Negotiations. He has been involved in setting up of companies and Joint Ventures both in India and abroad.
Udayan Mukerji is a retired IPS officer and a practicing advocate with specialization in criminal matters, torts, writ petitions, arbitration and contracts. He is a Patron Member of the Bar Association of India. During his career with the IPS, he functioned at various levels dealing with homeland and internal security, communications security and investigations into security deficiencies. He is the recipient of the Indian Police Medal for Meritorious Service and the President’s Medal for Distinguished Service.