SARASIJ'S BLOG

IPO: JIO PLATFORMS LIMITED

Image
  IPO: JIO PLATFORMS LIMITED ©INVESTMENT HAWK A SERIOUS READER OF MY BLOGS TOLD ME TO WRITE ABOUT THIS IPO. IT WAS A GOOD SUGGESTION. I AM WRITING IT, AND REQUESTING MY READERS TO SPREAD IT SO THAT NOBODY LOSE HIS HARD-EARNED MONEY. Jio Platforms Limited is an Indian technology and digital services company controlled by Reliance Industries Limited. It operates as an integrated digital ecosystem combining mass connectivity with proprietary software, cloud infrastructure, and artificial intelligence. It is not yet listed. PARAMETRIC DATA: Market Cap:₹ 10,30,491/- Cr.|  Debt:₹ 84,669/- Cr.|  Earnings yield:4.48 %| P/E: 34.2 |  ROCE: 10.75.|  D/E=0.25 Core Pillars of the Business • Telecom & Connectivity: Through its primary subsidiary, Reliance Jio Infocom Limited (RJIL), it serves over 524 million mobile, 5G, and fixed broadband (JioFiber and JioAirFiber) customers across India. • Consumer Digital Services: It offers entertainment, cloud storage,...
Post a Comment

 

PMLA-2002- A REVIEW

The Prevention of Money Laundering Act

SARASIJ MAJUMDER

The Prevention of Money Laundering Act (PMLA) is a critical law in India. PMLA was passed under the Vajpayee government and notified under the UPA after pressure was mounted by FATF. 

Its sole purpose is to fight against money laundering activities. The law provides a complete legal framework for preventing and punishing financial crimes that involve money laundering. The law marked a significant egal control in India. It establishes India's commitment to global efforts against economic crimes. It was in line with the standards of the Financial Action Task Force (FATF). The FATF is an inter-governmental body. Its purpose is to combat money laundering worldwide.

The Judicial Custody of Mr. Kejriwal under the Prevention of Money Laundering Act (PMLA) is a nuanced and complex issue, with various opinions surrounding it. From a legal and regulatory point of view, there are reasons to use PMLA in cases like this. It's important to know that the following reasons are to help understand the legal side of the case.

Preventing Financial Crimes

  • Deterrence Against Money Laundering:
    The main purpose of the PMLA is to fight against money laundering and illegal money transactions. Using this law in cases with politically powerful people like Kejriwal delivers a strong warning  by the STATE against using power to make money wrongly, and use it for wrong purpose. This acts as a warning to others.

Upholding Regulatory Standards

  • Regulatory Compliance:
    The use of PMLA rules makes sure that everyone, no matter how powerful or influential he may be, has to follow the same financial rules and be responsible for their actions. It establishes the principle that no one is above the law, promoting a culture of transparency and legal compliance.

Protecting Economic Integrity

  • Safeguarding Economic Stability:
    Money laundering damages the country's finances. It causes financial instability. Authorities investigate and arrest suspects to stop, and prevent this. They aim to keep the economy stable and safe for every citizen.

International Obligations

  • Fulfilling Global Commitments:
    Many countries, including India, are part of international agreements to fight corruption and money laundering, such as the Financial Action Task Force (FATF) standards. Taking decisive legal action demonstrates a commitment to these global standards, which is crucial for maintaining international economic relations and trust.

Investigating Agency

·         Enforcement Directorate is only entrusted with the authority for investigations of people / Companies suspected to have committed this Offence.

Responsibility of the accused

·         Unlike other provisions—here the accused has to prove that he is innocent. The accused can’t get  the protection of BAIL.

Punishment

·         Offence of money-laundering is punishable with rigorous imprisonment for a period of not less than three years but may extend to seven years and with fine up to five lakh rupees. Property can be confiscated.

References:-

1.0 https://dea.gov.in/sites/default/files/moneylaunderingact.pdf

2.0 https://www.dor.gov.in/sites/default/files/The%20Prevention%20of%20Money-laundering%20Act%2C%202002.pdf

3.0 https://fiuindia.gov.in/files/AML_Legislation/pmla_2002.html

4.0 https://enforcementdirectorate.gov.in/pmla

5.0https://www.indiacode.nic.in/bitstream/123456789/15402/1/moneylaunderingact2002.pdf

6.0 Image:- Google

Comments

Post a Comment

Popular posts from this blog

Image
  REVIVAL OF ARVARI RIVER What a Leader, and People can do. SARASIJ MAJUMDER   REVIVAL OF ARVARI RIVER— Arvari river is a small river, may be the smallest, in the ALWAR,   Indian state of Rajasthan. The 90 km.   long river flows through the Alwar District of Rajasthan. It got dried, and   was revived in 1990. It remained dry for 60 years. The turnaround started in 1986, when people of Bhanota- Kolyala village with   the help of Tarun Bharat Sangha, managed by Rajendra Singh, constructed a   JOHAD, (earthen check dam) at the source of the dried river; following this,   villages that lay in its catchment area, and along the dried river bed, they also built tiny earthen dams, the largest being a 244 mt. long and 7 mt. High Concrete dam, most of them were in the Aravalli hills; eventually when the number of dams reached 375, the river started to flow again in 1990, after remaining dry for over 60 years. Villagers talk about Arvari's rebi...
Read more

THE STORY OF LOVELY KHATUN

Image
  THE STORY OF LOVELY KHATUN SARASIJ MAJUMDER Trinamool Congress (TMC) leader Lovely Khatun, who served as the Pradhan of the Rashidabad Gram Panchayat in West Bengal's Malda district, was stripped of her post by the local Sub-Divisional Officer (SDO) following allegations that she is an illegal immigrant from Bangladesh. The whole story is narrated below. The Background and Controversy:   The controversy erupted after her defeated political rival, Rehana Sultana, filed a petition in the Calcutta High Court,   accusing her of being an illegal Bangladeshi immigrant who procured forged Indian documents, and got elected. What Investigations revealed:   Identity Discrepancy: Investigations unearthed   that Lovely Khatun's real name is Nasia (or Nasifa) Sheikh and that she allegedly entered India without a valid passport. Forged Documents: She is accused of forging her father's name (listing him as Sheikh Mustafa instead of her actual father, Jamil Bisw...
Read more

KNOW THY LEADER AND IDENTIFY ENEMY

Image
  KNOW THY LEADER AND   IDENTIFY ENEMY SARASIJ MAJUMDER Think about it—the man who has effectively FIRST MARGINALIZED   AND THEN ALMOST ERASED Arvind Kejriwal (AK-49) & HIS   PARTY without even uttering his name. AK-49 was once a ‘DEEP STATE’ man, later dumped. Uddhav Bhai is gasping for political life!! Congress party IS LIVING SOMETIME IN ICU , SOMETIME IN VENTILATOR for the last 12 years . And who ensured that elections were conducted relatively peacefully in a state like West Bengal—where, at one time, voting was synonymous with violence, gunfire, bombings, and loss of hundreds of lives. Who, and whose party and whose Leaders achieved the above? Introspect. Who revoked Article 370—a decision that Political Pundits & Critics once claimed would start with   a bloodbath in Kashmir, ultimately end with getting Kashmir joining with PAKISTAN. Well—the situation is different!! Who has largely brought the menace of stone-pelters in Kashmi...
Read more