High Court to ED: Can’t Deny Sleep, Fix Timings to Record statement
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High Court to ED: Can’t Deny Sleep, Fix Timings to Record statement

Denying Sleep to person violates his human rights, the Bombay high court observed on Monday, and told the Enforcement Directorate to provide direction to its officials on the timing for recording statements of people summoned by the agency in money-laundering cases. When summoned under section 50 of the prevention of money laundering Act (PMLA) where…

AAP Govt to Give ₹1,000/M to Women Above 18 Years, Keeps Out I-T Payers
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AAP Govt to Give ₹1,000/M to Women Above 18 Years, Keeps Out I-T Payers

Putting women at the centre of its budget, the Aam Aadmi Party (AAP) government on Monday promised Rs 1,000 per month to all women above 18 years of age for the 2024-25 fiscal in the national capital. Presenting the budget 2024-25, Delhi finance minister Atishi announced the Mukhyamantri Mahila Samman Yojana under which the AAP…

CBIC Revises Reporting Norms for Seizure, Arrest
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CBIC Revises Reporting Norms for Seizure, Arrest

The Central Board of Indirect Taxes and Customs (CBIC) has announced new guidelines for reporting of arrests, smuggling and commercial frauds by customs officers, making it mandatory to report the arrest within 24 hours with details of nationality of the person, offence committed and the goods seized along with quantity. The smuggling incident report should…

Law Firms Like to Partner the Young Now
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Law Firms Like to Partner the Young Now

Indian law firms are expanding their talent pool with younger partners-a trend triggered by the burgeoning demand for complex and specialized legal assignments in a fast-growing economy increasingly integrated with global money hubs. A boom in legal business amid a rise in M&A deals, a vibrant IPO market, rising litigations, constantly evolving uniform producer levy…

ED chief’s extensions illegal, but he can stay till July 31: SC
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ED chief’s extensions illegal, but he can stay till July 31: SC

The Supreme Court on Tuesday quashed two extensions given to Enforcement Directorate chief San- jay Kumar Mishra for one year each, terming the government’s twin decisions as “illegal”, but allowed him to hold office till July 31 in public interest to ensure smooth transition in the agency. Mishra’s extended term was to end in November…

Sebi to SC. Difficult to identify Natural Persons in FPI’s Under Old Rules
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Sebi to SC. Difficult to identify Natural Persons in FPI’s Under Old Rules

India’s capital-markets regulator has told the Supreme Court in the Adani Group case that since custodians were not legally mandated to keep granular details of all underlying investors with ownership in entities below a threshold,there was a possibility that one individual or entity could hold significant stakes in overseas funds through multiple platforms, each individually…

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Hero Elec Moves HC against DRI Show Cause

Hero Electric vehicles has moved the Punjab and Haryana High Court, seeking to quash a show cause notice issued by the Directorate of Revenue Intelligence (DRI) accusing the company of  customs tax evasion. The DRI in its 2020 notice claimed that the company had falsely declared imported kits of electric scooters as components to evade…

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SC Upholds PMLA Provisions’ Validity

The Supreme Court has up held the constitutional validity of the provision of the Prevention of Money Laundering Act (PMLA), calling it a “unique and special legislation” and underlining the powers of the Directorate of Enforcement (ED) to hold inquiries, arrest people and attach property. A bench of Justice AM Khanwilkar, Dinesh Maheshwari and CT…

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Tribunals Grants Relief to 2 Adani Cos in DRI Case

In a relief for the Adani Group, a customs, Excise & Service Tax Applicable Tribunal (CESTAT) has upheld the adjudicating authority’s order quashing over-invoicing allegations against two firms belonging to the conglomerate. In July last year- after minister of states for finance Pankaj Chaudhary said the Directorate of Revenue Intelligence (DRI) is investigating certain entities…

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Gold Smuggling of Low Quantity Cannot be Treated as a Terrorist Act, says Rajasthan High Court                                                                           

In a major setback to the National Investigation Agency (NIA), the Rajasthan High Court ruled that the customs Act is not included in Schedule- II OF The UA (P) A. IT further stated that smuggling of gold, of a quantity which is bailable under the Customs Act, can not be treated as a terrorist act.”…