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Prevention Of Money Laundering Act, 2002
Prevention of Money Laundering Act, 2002 is an Act of the Parliament of India enacted by the NDA government to prevent money-laundering and to provide for confiscation of property derived from money-laundering. PMLA and the Rules notified there under came into force with effect from July 1, 2005. The Act and Rules notified there under impose obligation on banking companies, financial institutions and intermediaries to verify identity of clients, maintain records and furnish information in prescribed form tFinancial Intelligence Unit - India(FIU-IND). The act was amended in the year 2005, 2009 and 2012. On 24 Nov 2017, in a ruling in favour of citizens' liberty, the Supreme Court has set aside a clause in the Prevention of Money Laundering Act, which made it virtually impossible for a person convicted to more than three years in jail to get bail if the public prosecutor opposed it. (Section 45 of the PMLA Act, 2002, provides that no person can be granted bail for any offence ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of India
The Parliament of India ( IAST: ) is the supreme legislative body of the Republic of India. It is a bicameral legislature composed of the president of India and two houses: the Rajya Sabha (Council of States) and the Lok Sabha (House of the People). The president in his role as head of the legislature has full powers to summon and prorogue either house of Parliament or to dissolve the Lok Sabha. The president can exercise these powers only upon the advice of the prime minister and his Union Council of Ministers. Those elected or nominated (by the president) to either house of Parliament are referred to as members of Parliament (MPs). The members of parliament of the Lok Sabha are directly elected by the Indian public voting in single-member districts and the members of parliament of the Rajya Sabha are elected by the members of all state legislative assemblies by proportional representation. The Parliament has a sanctioned strength of 543 in the Lok Sabha and 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Laundering
Money laundering is the process of concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime. In US law, money laundering is the practice of engaging in financial transactions to conceal the identity, source, or destination of illegally gained money. In UK law the common law definition is wider. The act is defined as "taking any action with property of any form which is either wholly or in part the proceeds of a crime that will disguise the fact that that property is the proceeds of a crime or obscure the beneficial ownership of said property". In the past, the term "money laundering" was applied only to financial transactions related to organized crime. Today its definition is often expanded by government and international regulators such as the US Of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anti-corruption Measures In India
Anti-corruption (or anticorruption) comprises activities that oppose or inhibit corruption. Just as corruption takes many forms, anti-corruption efforts vary in scope and in strategy. A general distinction between preventive and reactive measures is sometimes drawn. In such framework, investigative authorities and their attempts to unveil corrupt practices would be considered reactive, while education on the negative impact of corruption, or firm-internal compliance programs are classified as the former. History Early history The code of Hammurabi (), the Great Edict of Horemheb (), and the Arthasastra (2nd century BC) are among the earliest written proofs of anti-corruption efforts. All of those early texts are condemning bribes in order to influence the decision by civil servants, especially in the judicial sector. During the time of the Roman empire corruption was also inhibited, e.g. by a decree issued by emperor Constantine in 331. In ancient times, moral pri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of India (1947–present)
India was the one of the largest economies in the world, for about two and a half millennia starting around the end of 1st millennium BC and ending around the beginning of British rule in India. Around 500 BC, the Mahajanapadas minted punch-marked silver coins. The period was marked by intensive trade activity and urban development. By 300 BC, the Maurya Empire had united most of the Indian subcontinent including Tamilakam, which was ruled by Three Crowned Kings. The resulting political unity and military security allowed for a common economic system and enhanced trade and commerce, with increased agricultural productivity. The Maurya Empire was followed by classical and early medieval kingdoms, including the Cholas, Pandyas, Cheras, Guptas, Western Gangas, Harsha, Palas, Rashtrakutas and Hoysalas. The Indian subcontinent had the largest economy of any region in the world for most of the interval between the 1st and 18th centuries. Maddison, Angus (2003): Development Centr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vajpayee Administration Initiatives
Atal Bihari Vajpayee (; 25 December 1924 – 16 August 2018) was an Indian politician who served three terms as the 10th prime minister of India, first for a term of 13 days in 1996, then for a period of 13 months from 1998 to 1999, followed by a full term from 1999 to 2004. Vajpayee was one of the co-founders and a senior leader of the Bharatiya Janata Party (BJP). He was a member of the Rashtriya Swayamsevak Sangh, a Hindu nationalist volunteer organisation. He was the first Indian prime minister not of the Indian National Congress to serve a full term in office. He was also a renowned poet and a writer. He was a member of the Indian Parliament for over five decades, having been elected ten times to the Lok Sabha, the lower house, and twice to the Rajya Sabha, the upper house. He served as the Member of Parliament for Lucknow, retiring from active politics in 2009 due to health concerns. He was among the founding members of the Bharatiya Jana Sang ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Acts Of The Parliament Of India 2002
The Acts of the Apostles ( grc-koi, Πράξεις Ἀποστόλων, ''Práxeis Apostólōn''; la, Actūs Apostolōrum) is the fifth book of the New Testament; it tells of the founding of the Christian Church and the spread of its message to the Roman Empire. It gives an account of the ministry and activity of Christ's apostles in Jerusalem and other regions, after Christ's death, resurrection, and ascension. Acts and the Gospel of Luke make up a two-part work, Luke–Acts, by the same anonymous author. It is usually dated to around 80–90 AD, although some scholars suggest 90–110. The first part, the Gospel of Luke, tells how God fulfilled his plan for the world's salvation through the life, death, and resurrection of Jesus of Nazareth. Acts continues the story of Christianity in the 1st century, beginning with the ascension of Jesus to Heaven. The early chapters, set in Jerusalem, describe the Day of Pentecost (the coming of the Holy Spirit) and the growth of the chur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Acts Of The Parliament Of India
This is a chronological, but incomplete list of Acts passed by the Imperial Legislative Council between 1861 and 1947, the Constituent Assembly of India between 1947 and 1949, The Provisional Parliament between 1949 and 1952, and the Parliament of India The Parliament of India ( IAST: ) is the supreme legislative body of the Republic of India. It is a bicameral legislature composed of the president of India and two houses: the Rajya Sabha (Council of States) and the Lok Sabha (House of ... since 1952. 1836–1850 1851–1875 1876–1900 1901–1925 1926–1950 1951–1975 1976–2000 2001 – 2010 2011 – 2020 See also * List of amendments of the Constitution of India * Lawmaking procedure in India References External links Government of India's Chronological List of Acts (As of 7 June 2021) [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Act Of Congress
An Act of Congress is a statute enacted by the United States Congress. Acts may apply only to individual entities (called private laws), or to the general public ( public laws). For a bill to become an act, the text must pass through both houses with a majority, then be either signed into law by the president of the United States, be left unsigned for ten days (excluding Sundays) while Congress remains in session, or, if vetoed by the president, receive a congressional override from of both houses. Public law, private law, designation In the United States, Acts of Congress are designated as either public laws, relating to the general public, or private laws, relating to specific institutions or individuals. Since 1957, all Acts of Congress have been designated as "Public Law X–Y" or "Private Law X–Y", where X is the number of the Congress and Y refers to the sequential order of the bill (when it was enacted). For example, P. L. 111–5 ( American Recovery and Reinvestme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Act Of Parliament
Acts of Parliament, sometimes referred to as primary legislation, are texts of law passed by the legislative body of a jurisdiction (often a parliament or council). In most countries with a parliamentary system of government, acts of parliament begin as a bill, which the legislature votes on. Depending on the structure of government, this text may then be subject to assent or approval from the executive branch. Bills A draft act of parliament is known as a bill. In other words, a bill is a proposed law that needs to be discussed in the parliament before it can become a law. In territories with a Westminster system, most bills that have any possibility of becoming law are introduced into parliament by the government. This will usually happen following the publication of a " white paper", setting out the issues and the way in which the proposed new law is intended to deal with them. A bill may also be introduced into parliament without formal government backing; this is known ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Enforcement Directorate
The Directorate of Enforcement (ED) is a law enforcement agency and economic intelligence agency responsible for enforcing economic laws and fighting economic crime in India. It is part of the Department of Revenue, Ministry of Finance, Government Of India. It is composed of officers from the Indian Revenue Service, Indian Police Service and the Indian Administrative Service as well as promoted officers from its own cadre. The origin of the ED goes back to 1 May 1956, when an ‘Enforcement Unit’ was formed, within the Department of Economic Affairs, for handling Exchange Control Laws violations under the Foreign Exchange Regulation Act, 1947. In 1957, the unit was renamed as the ‘Enforcement Directorate’. Sanjay Kumar Mishra former Chief Commissioner of Income Tax, New Delhi was appointed as ED chief in the rank of Secretary to Government of India, from October 2018. Objective The prime objective of the Enforcement Directorate is the enforcement of two key Acts of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
High Courts Of India
The high courts of India are the highest courts of appellate jurisdiction in each state and union territory of India. However, a high court exercises its original civil and criminal jurisdiction only if the subordinate courts are not authorized by law to try such matters for lack of pecuniary, territorial jurisdiction. High courts may also enjoy original jurisdiction in certain matters, if so designated specially by the constitution, a state or union law. The work of most high courts primarily consists of appeals from lower courts and writ petitions in terms of Articles 226 and 227 of the constitution. Writ jurisdiction is also an original jurisdiction of a high court. Each state is divided into judicial districts presided over by a district and sessions judge. He is known as district judge when he presides over a civil case, and session's judge when he presides over a criminal case. He is the highest judicial authority below a high court judge. Below him, there are courts o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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