PMLA

PMLA

The PMLA seeks to combat money laundering in India and has three main objectives:

•   To prevent and control money laundering
•   To confiscate and seize the property obtained from the laundered money; and
•   To deal with any other issue connected with money laundering in India.

Proceeds of Crime

When money or wealth, in any form, generated or derived through illegal means or sources is injected into main stream of finance duly disguising the source of money or wealth as legal by a sequence of malafied process, a case of Money Laundering is made out. In other words, the money or wealth derived through illegal or criminal activity or process in terms of “Scheduled Offence” is termed as “Proceeds of Crime”.

Scheduled Offences

The offences listed in the Schedule to the Prevention of Money Laundering Act, 2002 are “Scheduled Offences”.

Predicate Offence

Every Scheduled Offence is a Predicate Offence which is a pre requisite for initiating investigation into offence of Money Laundering.

Burden of proof

The burden of proof to prove that the alleged Proceeds of Crime are proceeds out of lawful sources lies with the accused.

Support of Competent Advocate

This is where a genuine person, erroneously looped in to investigation under PMLA and vested with the burden of proof, needs the support of a competent and promising Lawyer to put all facts and figures in proper presentation before the Adjudicating Authority and Appellate Tribunal to prove himself not guilty.

• SRI LAW ASSOCIATES has a competent, unrelenting and promising Panel of Experts of Law and Finance to handle litigation under PMLA from the stage of investigation / ECIR, provisional attachment to confirmation of attachment before Adjudicating Authority, PMLA, New Delhi.
• The Panel effectively handles statutory appeals and remedies under PMLA right from the stage of filing of appeal / representation before Appellate Tribunal, New Delhi, Hight Couts etc., against provisional attachment, seizure of properties / documents etc.
• The Panel also specializes in handling Scheduled Offence Trial before Special Courts as well as Prosecution Complaints Trail before Special Court under provisions of PMLA.
• The departmental exposure puts SRI LAW ASSOCIATES in an advantageous position in understanding the provisions of law, assessing the genuineness of the client and presenting the case in right perspective in the relevant legal forum.