LawZ Magazine - April 2020
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In this issue
Kindly keep safe in this ongoing battle that tests our strengths and our moments of weakness. In this issue, the cover article referred legislation was made to prevent money laundering in India, to provide for confiscation and seizure of property obtained from laundered money and to deal with connected issues. Recently, in a Judgment of The Deputy Director Vs. Axis Bank dated 2nd April 2019, the Delhi High Court held that a property mortgaged with the Banks giving right to the Bank to enforce the property mortgaged as a security is over-ridden by the application of the Act. The position of law is not clear yet, as the Hon’ble Supreme Court of India is still seized of the matters, however, the general view is that the properties of the accused cannot be attached as alternate attachable properties under the Act when the same are mortgaged to the Bank much prior to the commission of any offense. The rights of the Journalists / Media for free and fair reporting are on the one hand and national interest of integrity and sovereignty on the other. It should work for making a balance between the two and for the purpose of preserving freedom of Press, maintaining and improving the standards of the newspapers and news agencies in the Country. It is in this context, the Press Council of India assumes great significance.
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