Chartered Accountants cannot be held guilty under PMLA merely on the ground of issuance of certificate in favour of accused

Last updated: 09 December 2022

Court :
Madras High Court

Brief :
The Hon'ble Madras High Court ("the High Court") in the case of Murali Krishna Chakrala Vs. The Deputy Director, Directorate of Enforcement (Criminal Revision Case No.1354 of 2022 and Crl. M.P.No. 14792 of 2022)dated November 23, 2022, held that Chartered Accountants ("CA") is required to only examine the nature of the documents and not genuinity of those documents, therefore, mere issuing certificate cannot be a valid ground to prosecute a CA under the Prevention of Money Laundering Act, 2002 ("the PMLA Act").

Citation :
Criminal Revision Case No.1354 of 2022 and Crl. M.P.No. 14792 of 2022

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Chartered Accountants cannot be held guilty under PMLA merely on the ground of issuance of certificate in favour of accused

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