Enforcement Directorate ---- PMLA ---- FEMA Flashcards
____ is a multi-disciplinary organization mandated with investigation of offences of money laundering and violations of foreign exchange laws.
Directorate of Enforcement (ED)
It functions under the
Department of Revenue of the Ministry of Finance
When was it formed and with which name??
1st May, 1956 —– ‘Enforcement Unit’
‘Enforcement Unit’ was formed in the Department of Economic Affairs for handling Exchange Control Laws violations under
Foreign Exchange Regulation Act (FERA), 1947
It was headquartered in
Delhi
It was headquartered in Delhi, headed by a
Legal Service Officer as the “” Director of Enforcement””
Sanjay Kumar Mishra
In the year ____ , this Unit was renamed as ‘Enforcement Directorate’
1957
____ was enacted in response to India’s global commitment ( Vienna Convention) to combat the menace of money laundering
Prevention of Money Laundering Act (PMLA), 2002
Under ____ of PMLA, the person shall be accused of money laundering if in any manner that person is directly or indirectly involved in the proceeds of the crime
Section 3
* The names are:
Concealment
Possession
Acquisition
Use or projecting as untainted property
Claiming as untainted property
Which document is considered an “internal document” and not given to the accused?
ECIR (Enforcement Case Information Report)
____ of PMLA states that information must be given by the accused, false information or no information will constitute another offence.
Section 63
ED enforces how many laws?
Two
* Foreign Exchange Management Act,1999 (FEMA)
* Prevention of Money Laundering Act, 2002 (PMLA)
The legal framework for the administration of foreign exchange transactions in India and all transactions involving foreign exchange have been classified either as capital or current account transactions is provided by the
Foreign Exchange Management Act, 1999
* came into force with effect from 1st June 2000
A ‘person resident in India’ is defined in ____ of FEMA, 1999
Section 2(v)
Under the ____ , this Directorate is empowered to sponsor cases of preventive detention with regard to contraventions of FEMA.
Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (COFEPOSA)
This law was enacted to deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts & ED is mandated to attach the properties of the fugitive economic offenders who have escaped from India warranting arrest and provide for the confiscation of their properties to the Central Government. NAME IT!!!
Fugitive Economic Offenders Act, 2018 (FEOA)
Which section of PMLA gives ED the “power of survey”?
Section 16
Which section of PMLA gives ED the “Search and Seizure”?
Section 17
Which section of PMLA gives ED the “Power of Arrest”?
Section 19
Under ____ of the PMLA, the ED can also directly carry out search and seizure without calling the person for questioning.
Section 50
Which sectionprovides for a balancing arrangement to secure the interests of the person and also ensures that the proceeds of crime remain available to be dealt with in the manner provided by the 2002 Act?
Section 5
____ is the Central Counter-Terrorism Law Enforcement Agency of India mandated to investigate all the offences affecting the sovereignty, security and integrity of India.
National Investigation Agency (NIA)
National Investigation Agency (NIA) was constituted under
National Investigation
Agency (NIA) Act, 2008
Headquarters: New Delhi
Under ____ of the Constitution, the maintenance of public order and police forces are matters of (?).
Schedule VII , state list
Criminal law forms part of the ____ list
concurrent
National security comes under the domains of (??) list.
union
____ is a multi-disciplinary organization under the Ministry of Corporate Affairs, consisting of experts in the field of accountancy, forensic auditing, law, information technology, investigation, company law, capital market and taxation for detecting and prosecuting or recommending for prosecution white-collar crimes/frauds.
Serious Fraud Investigation Office (SFIO)
(?) of the Companies Act, 2013, has accorded statutory status to the Serious Fraud Investigation Office (SFIO).
Section 211
____ is a nonviolent crime committed for financial gain.
White-collar crime
____ is the nodal agency on the matter of drug law enforcement in India
Narcotics Control Bureau (NCB)
is the apex coordinating agency under the Ministry of Home Affairs
Narcotics Control Bureau (NCB) was constituted by the Government of India in
1986 under the Narcotic Drugs and Psychotropic Substances Act, 1985
