![[Reconsideration of 2022 PMLA Verdict] "Came Up Suddenly, Need Time to Prepare": SC Postpones Hearing to Aug 28](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/08/image-24-2.png?resize=447%2C367&ssl=1)
Today, On 7th August, The Supreme Court postponed the hearing to August 28 for petitions seeking a reconsideration of the 2022 Prevention of Money Laundering Act (PMLA) verdict, acknowledging the complexity and importance of the matters being reviewed. This delay aims to provide all parties adequate time to prepare and addresses critical questions about the scope and limits of the ED’s powers.
The RBI’s crackdown on PPBL culminated in a series of directives issued in early 2024, following a detailed audit that uncovered a range of compliance failures. Notably, the central bank’s decision to bar PPBL from accepting new deposits or top-ups in customer accounts, prepaid instruments, wallets, and FASTags was slated to take effect after February […]
