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S. M. SUBRAMANIAM, M. JOTHIRAMAN
Equitas Small Finance Bank Limited, Represented by Mr. K. Ramanathan, Senior Vice President (Legal) – Appellant
Versus
Secretary, Ministry of Finance, Government of India, North Block, New Delhi – Respondent
Headnote: Read headnote
ORDER :
(Order of the Court was made by S.M.SUBRAMANIAM, J.)
The Criminal Original Petition has been instituted challenging the summon issued by Assistant Director, Enforcement Directorate, Dimapur Sub-Zonal Office, Guwahati under Section 50 (2) of the Prevention of Money Laundering Act, 2002 (hereinafter referred to as 'PMLA').
2. Mr.R.Shunmugasundaram, the learned Senior Counsel appearing on behalf of the petitioner would contend that the petitioner/Bank responded to the summon earlier issued on 13.09.2024 and the Bank representatives appeared before the competent Authority of Enforcement Directorate and placed the details with reference to the deposit made by the accused person in the money laundering case.
3. The Bank representatives appeared on 22.10.2024 and they are ready and willing to cooperate for the investigation of the money laundering offense, if any. Meanwhile, certain Court orders in civil litigations are also produced and that prompted the Bank to file the present petition, since the Managing Director and Chief Executive Officer of t
Compliance with summons under PMLA is mandatory unless issued by an incompetent authority or with allegations of malafides; courts should not interfere at the summons stage.
(1) Money laundering – Law does not mandate taking of prior permission from Magistrate for carrying out further investigation, even after filing of charge-sheet.
(2) Mere issuance of summons to ac....
The Enforcement Directorate can issue summons for further investigation under the PMLA Act without prior permission from the Special Court, and this does not violate the accused's rights under Ar....
The quashing of an FIR does not preclude ongoing investigations under the Prevention of Money Laundering Act, as statutory powers of authorities remain intact.
(1) A person who is named in ECIR cannot seek its quashing.
(2) Right against self-incrimination – Mere issuance of summons under Section 50 of PMLA for the purpose of giving information or eviden....
Money Laundering – Issuance of summons – PMLA is a self-contained Code and dispensations envisaged thereunder, must prevail – At the stage of issue of summons, the person cannot claim protection unde....
The powers of the Directorate of Enforcement to issue summons under Section 50 of PMLA empower them to summon any person for the purpose of collecting information or evidence, and the protection unde....
The Court emphasized that the petitioner's apprehension of arrest was premature and that the prayer for quashing the ECIR was premature and without merit. The Court also highlighted that the petition....
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