Photo of Sanika Gokhale

Senior Associate in the Dispute Resolution Practice at the Mumbai office of Cyril Amarchand Mangaldas. Sanika advises on commercial litigation, white collar crime and civil litigation, including arbitrations and dispute advisory. She can be reached at sanika.gokhale@cyrilshroff.com

Prakash Gupta Judgment – Has the Supreme Court given more Powers to SEBI in the Matter of Compounding

Introduction

The Securities and Exchange Board of India Act, 1992 (“SEBI Act”) was essentially introduced to protect the interests of investors and to regulate and promote the development of the securities market in India. As a direct consequence of this legislative intention, the SEBI Act lays down that contravention, attempt to contravene and abetment of contravention of the provisions of the SEBI Act would be punishable with imprisonment and fines of varying quantum.


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“A predicate offence is the sine qua non for the offence of money laundering” - IS IT REALLY

1. INTRODUCTION

The Prevention of Money Laundering Act, 2002 (“PMLA”) has proven to be a revolutionary legislation and is certainly one of its kind. The nature of the statute and the utmost necessity that it be enforced in a manner that fulfils the legislative intent thereby creating economic security as well as the nation’s requirements have resulted in wide powers being granted to the Enforcement Directorate (“ED”). Although there are significant judgments that have set the law straight, both procedural and substantive, or at least strived to, a fascinating, albeit controversial judgment has been passed by the High Court of Bombay recently in Babulal Verma and Ors. vs. Enforcement Directorate and Ors (“Babulal Judgment”).[1]
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DOUBLE TROUBLE IN 2020 - TACKLING COVID-19 WHILE PROTECTING THE RIGHT TO PRIVACY

Background

Dire times call for ingenious, and often, radical measures. The COVID-19 pandemic, which has led to actions being taken under the Epidemic Diseases Act, 1897, and the Disaster Management Act, 2005, in India, is one such unprecedented and grim event. While governments and health workers all over the world are grappling to curb the spread of the virus, it has been realised that surveillance of affected persons is of paramount importance in order to assess and implement preventive and control measures.

Data tracking and analysis has emerged as an unlikely hero. This analysis has enabled governments to implement measures to stop the pandemic at its source and to prevent deaths, social disruption, unnatural burden on the healthcare system and economic loss. As government authorities are required to control the pandemic not only in their own country, but also understand how the same is evolving in other countries, governments all over the world have taken the stance that free flow of information that is updated in real time will allow for the formation of a steady global picture and help in curbing the spread of the pandemic.
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