The Allahabad High Court quashed money laundering proceedings against Tulsiani Construction and its directors, holding that civil and commercial disputes cannot be converted into criminal prosecutions under the Prevention of Money Laundering Act. The Court also set aside the ED’s summoning and attachment actions.
The Supreme Court agreed to consider Reliance Industries Limited’s fresh request for conciliation in the Krishna-Godavari Basin gas migration dispute with the Central government, observing that an amicable settlement would be welcomed and the appeal could be disposed of if both sides successfully resolve the matter.
A Delhi court resolved a 17-year-old commercial dispute involving J&K Bank, emphasizing the negative impact of delayed justice on business confidence and the economy. District Judge Monika Saroha expressed concern over the lengthy litigation process and urged for quicker resolutions to enhance stability and promote economic growth.
