Book Launch Event: 'Treatise On PMLA, Law & Practice' [Second Edition]

The ceremony was graced by a lineup of judicial luminaries, including the Chief Guest, Justice Ujjal Bhuyan, Judge, Supreme Court of India, Guest of Honour Justice Alok Aradhe, Chief Justice of Bombay High Court and keynote speakers Justice M.S. Sonak and Justice Revati Mohite Dere.

Several other notable judges from the Bombay High Court attended the event. These included Justice A.S. Gadkari, Justice M.S. Karnik, Justice N.R. Borkar, Justice Madhav J. Jamdar, Justice Abhay Ahuja, Justice Rajesh S. Patil, Justice Dr. Neela Kedar Gokhale, and Justice Advait M. Sethna and Advocate General Birendra Saraf.

Mr. Akhilesh S. Dubey is a legal practitioner with expertise spanning domestic and international law and significant contributions to commercial law, human rights law, white-collar crimes, and research on judicial reforms have marked his career.

The presence of such a distinguished judicial panel underscored the importance of anti-money laundering laws in safeguarding India's financial systems against illegal activities. Justice Ujjal Bhuyan and Justice Alok Aradhe highlighted the critical role that books like "Treatise on PMLA" play in educating legal practitioners and strengthening enforcement mechanisms.

Justice Bhuyan emphasized that combating money laundering is not just a legal challenge but also an ethical imperative to protect economic integrity. Justice Bhuyan added that no judgment or judge is perfect, and a 'perfect judgment' is yet to be written. He gave the example of the landmark case of Keshavananda Bharati, often celebrated as India's greatest constitutional decision. Despite its significance, it had nine separate opinions, making it challenging to discern a clear ratio. Ultimately, Justice Khanna's circulated note, signed by nine out of thirteen judges, became the guiding principle.

Justice Bhyan further added that judgment in Keshvananda Bharti highlights how every judgment builds upon the last, serving as a stepping stone for future cases. The same applies to the PMLA. Over the past year, the law has evolved significantly, with milestones crossed in its interpretation and application. Yet, this journey is ongoing.

Justice Alok Aradhe and Justice M.S. Sonak and Advocate General Birendra Saraf lauded Mr. Dubey's efforts in creating a detailed reference work that bridges theoretical understanding with practical insights.

Justice Revati Mohite Dere enlightened the gathering about the principles with respect to an arrest of an accused, which starts from the reason to believe, which has to be shown that the person is guilty of an offence punishable under PMLA and that belief must be based on material evidence in the officer's possession. Secondly, the reasons for such belief must be recorded in writing before arresting the accused. Thirdly, the written grounds of arrest must be furnished to the accused as a matter of course and without exception. The object being, to give meaning and purpose to the constitutional mandate and the statutory mandate under Section 19 of the PMLA. Fourthly, The grounds of arrest must be communicated to the arrested person as soon as made. Fifthly, mere possession of incriminating material is not sufficient, there must be a justifiable need to arrest at that particular time, which means, essentially, whether there is a necessity to arrest. And lastly, an arrested accused must be produced before the special court within 24 hours.

Several attendees expressed their admiration for Mr. Dubey's work in compiling this treatise. Advocates and scholars remarked on how the book provides clarity on complex legal provisions under PMLA while addressing contemporary challenges such as cross-border money laundering and digital financial crimes.

The author Mr. Akhilesh Dubey spoke about the application of the principles of Article 21 of the constitution for interpreting the provisions of PMLA and expanding the scope of Article 21 to include right to sleep in the recent judgment passed by Justice Dere.

Click here to watch the event.