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The Prevention of Money Laundering Act, 2002 (PMLA) was enacted to prevent money laundering and provide for confiscation of property derived from money laundering. Key provisions include: the ED can investigate offences listed in the Schedule (known as scheduled offences), attach property provisionally for 180 days, and prosecute before Special Courts. The Act covers offences under IPC, Prevention of Corruption Act, NDPS Act, and other statutes. Penalties include rigorous imprisonment of 3 to 7 years, extendable to 10 years for offences involving the Narcotics Drugs and Psychotropic Substances Act.

If you receive an ED summon under PMLA, it is critical to engage an experienced PMLA lawyer immediately. Do not ignore the summon as non-compliance is a punishable offence. An experienced advocate can: review the summon and advise on the scope of inquiry, prepare you for the statement recording under Section 50 of PMLA, ensure your rights are protected during the investigation, and challenge any unlawful attachment or seizure orders. Shastri Legal has extensive experience representing clients before the ED across India.

White-collar crimes are non-violent, financially motivated offences typically committed by business professionals, government officials, or corporations. In India, these include: fraud and cheating (IPC Sections 415-420), embezzlement and criminal breach of trust (IPC Section 405-409), money laundering (PMLA), benami transactions, insider trading (SEBI Act), corporate fraud (Companies Act), and FEMA violations. Penalties range from fines to imprisonment of 7-10 years depending on the offence. Shastri Legal specializes in defending clients accused of white-collar crimes across all jurisdictions.

The Prohibition of Benami Property Transactions Act, 1988 (amended 2016) prohibits benami transactions where property is held by one person (benamidar) while consideration is provided by another (beneficial owner). Consequences include: confiscation of benami property by the Central Government, imprisonment up to 7 years, and a fine up to 25% of the fair market value of the property. The Initiating Officer can provisionally attach property for 90 days, extendable by the Adjudicating Authority. Appeals lie to the Appellate Tribunal and then to the High Court.

Bail in PMLA cases is notoriously difficult due to Section 45 of PMLA which imposes twin conditions: the court must be satisfied that there are reasonable grounds to believe the accused is not guilty, and is unlikely to commit any offence while on bail. An experienced PMLA bail lawyer can: argue that twin conditions under Section 45 are satisfied, demonstrate the absence of scheduled offence, challenge the ED's case on merits, present grounds for bail including prolonged incarceration, and invoke constitutional protections. Shastri Legal has successfully secured bail for clients in complex PMLA cases before Special Courts and High Courts.

PMLA and white-collar crime cases are handled by multiple forums: Special PMLA Courts (for prosecution complaints), Adjudicating Authority (for attachment and confiscation under PMLA & Benami Act), PMLA Appellate Tribunal (for appeals), CBI Special Courts (for corruption and fraud), NCLT/NCLAT (for corporate fraud), SEBI and Securities Appellate Tribunal (for insider trading), DRT/DRAT (for banking fraud), and the High Courts and Supreme Court of India for appeals and writ petitions. Shastri Legal practices before all these forums with offices in New Delhi and Mumbai.