Tag: Corporate Criminal Liability
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Recent FCPA Policy Changes in the US: Implications for Indian Businesses
[Kartikey Mahajan is a Partner, Bhavya Chengappa a Principal Associate, and Rohan Sanjith a Paralegal, all at Khaitan & Co.] The landscape of U.S. Foreign Corrupt Practices Act (FCPA) enforcement has fundamentally shifted in 2025, as the US Department of Justice (DOJ) implements sweeping policy changes that prioritize American economic interests while refocusing anti-corruption efforts on transnational criminal organizations. These
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Supreme Court’s M3M Ruling: Equivalent‑Value Substitution at the Provisional Attachment Stage under PMLA
[Shailee Basu is a lawyer based in Delhi and Research Fellow with the Crime & Punishment team at Vidhi Centre for Legal Policy] Recently, the Supreme Court of India permitted M3M India Pvt. Ltd, a real estate company, to substitute its land worth ₹317 crore provisionally attached by the Enforcement Directorate (ED) under section 5 of the Prevention
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IBC vis-à-vis PMLA: Does Section 32A Resolve the Question of Primacy?
[Manisha Arora is a 3rd year B.A., LL.B. (Hons.) student at Damodaram Sanjivayya National Law University, Visakhapatnam] The absence of definitive jurisprudence on the interplay of the Insolvency and Bankruptcy Code, 2016 (“IBC”) and the Prevention of Money Laundering Act, 2002 (“PMLA”) has resulted in the uncertainty in their enforcement. While the IBC ensures the
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Caught between PMLA and IBC: The Bhushan Power-JSW Saga
[Aniket Aggarwal is a commercial litigator and technology lawyer practicing in New Delhi] A prima facie look at the Prevention of Money Laundering Act, 2002 [“PMLA” or “the Act”] and the Insolvency and Bankruptcy Code, 2016 [“IBC” or “the Code”] belies exclusivity and distinctness between the legislations. Indeed, the Delhi High Court observed these laws
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Decriminalisation of Section 138: A Half-Baked Remedy
[Srihari Gopal and Vedant Malpani are fifth year students at Gujarat National Law University, Gandhinagar] On June 8, 2020, the Ministry of Finance released a notification inviting comments on a proposal to decriminalise 39 minor offences. The proposal comes in a long line of measures initiated by the government to revive businesses and ‘unburden’ the
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Disgorgement by SEBI under Section 32A of IBC: Death-Knell for Insolvency Resolution?
[Rongeet Poddar is a graduate of West Bengal National University of Juridical Sciences & Vishal Hablani is a final year student at West Bengal National University of Juridical Sciences] The Securities and Exchange Board of India (“SEBI”) has released a ‘Report on the Measures for Strengthening the Enforcement Mechanism of the Board and Incidental Issues’
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Decriminalization of Minor Economic Offences: A Step in the Right Direction?
[Pratik Sahai and Manjri Singh are IV year students at NALSAR University of Law, Hyderabad] Amidst the economic slowdown as a consequence of the Covid-19 pandemic, there is an intention on the part of the Government to bring about much-awaited reforms to the corporate regulatory regime. The Ministry of Finance released a proposal on decriminalization
