Back
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
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 the petitioner/Bank is now directed to appear before the Enforcement Directorate through the impugned summons.
4. Mr.N.Ramesh, the learned S
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 accuse....
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 Articl....
The quashing of an FIR does not preclude ongoing investigations under the Prevention of Money Laundering Act, as statutory powers of authorities remain intact.
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 issuance of summons by the ED under Section 50 of the PMLA is part of the lawful investigation and does not amount to legal or factual malice unless the Applicant can establish otherwise.
(1) There is a statutory right of police to investigate cognizable crime without requiring any authority from judicial authority – Functions of judiciary and police are complementary, not overlapping....
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
