The White Collar Crime Newsletter serves as an exhaustive compilation, dissecting pivotal legal intricacies, recent developments, and notable case laws within the domain of white-collar crime in India and abroad.

The newsletter commences with a meticulous analysis of SFIO's arrest powers under Section 212(8) of the Companies Act, 2013, spotlighting the "Rahul Modi Case" as a focal point. The Supreme Court's verdict elucidates the directory nature of the prescribed investigation period, affirming the legality of SFIO's actions post-expiry.

Delving into recent regulatory developments, the Ministry of Finance's amendments to the Prevention of Money Laundering Act (PMLA) rules highlight intensified measures for reliable identification, enhanced information sharing, and stringent obligations for reporting entities. Internationally, significant strides include Europe's Anti-Money Laundering Authority (AMLA) agreement, bolstering the EU's stance against money laundering, and the UK's Economic Crime and Corporate Transparency Act (ECCTA), have ushered comprehensive reforms in financial crime regulation.

The newsletter culminates in an extensive exploration of crucial case laws. Notable Supreme Court rulings such as Saumya Chaurasia v. Directorate of Enforcement establish discretionary bail provisions under the PMLA, while Pavana Dibbur v. ED elucidates the conditions for criminal conspiracy to constitute a scheduled offence under the PMLA. Moreover, High Court rulings like Ranjit Singh Kothari v. State of W.B. and Shibu J vs. State of Kerala unravel pivotal interpretations regarding the jurisdiction of Special Designated Courts and the right to access crucial documents for defense, redefining procedural rights within white-collar crime cases.

The White Collar Crime Newsletter serves as an invaluable repository, encapsulating nuanced legal precedents, regulatory shifts, and comprehensive analyses essential for legal practitioners, regulatory bodies, and stakeholders navigating the intricate landscape of white-collar crime.

Access the complete newsletter here

Contributors to the newsletter:

Gyanendra Kumar Mishra, Partner.