Supreme Court: The 3-judge bench of SA Bobde, CJ and AS Bopanna* and V. Ramasubramanian, JJ has held that  under the Prevention of Money ­Laundering Act, 2002, though the Directorate of Enforcement is vested with sufficient power to freeze the accounts; such power is circumscribed by a procedure laid down under the statute. “It certainly is not the requirement that the communication addressed to the Bank itself should contain all the details. But what is necessary is […]

Market Access through Authorized Persons Attention of Members’ is drawn to Exchange circular NSE/INSP/42448 dated October 18, 2019, which mandates Members to exercise adequate control and due diligence over the activities & transactions of their Authorized Persons (APs) and conduct their periodic inspection in the manner as specified therein. A) All inspections undertaken during a financial year including the quantum should comply with guidelines prescribed in Exchange circular NSE/INSP/42448 dated October 18, 2019. B ) […]