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ARTICLE · 26 FEBRUARY 2019

Process Of Attachment, Adjudication, Confiscation Of Property & Trial Under PMLA

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The Prevention of Money Laundering Act, 2002 (PMLA) was enacted to prevent the menace of money laundering and to provide for confiscation of property derived from, or involved in, money laundering.

IndiaGovernment, Public Sector
Vijay Pal Dalmia
Vijay Pal Dalmia
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Article by
Vijay Pal Dalmia, Advocate
Supreme Court of India & High Court
Mobile: +91 9810081079 Email: [email protected]
And
Maryam Quadri
LL.B. 3rd Year (3 Year Course), Faculty of Law, Delhi University, India
[email protected]

The Prevention of Money Laundering Act, 2002 (PMLA) was enacted to prevent the menace of money laundering and to provide for confiscation of property derived from, or involved in, money laundering. Money laundering poses a serious threat not only to the financial system of India, but also to the integrity and sovereignty of India. An urgent need was felt for the enactment of a comprehensive legislation providing for inter alia, preventing money laundering, confiscation of proceeds of crime, setting up of agencies and mechanisms of coordinating measures for combating money laundering.

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