Vinodananda Jha Has Been Appointed as Chairperson of Prevention of Money Laundering Act (PMLA) Adjudicating Authority || Some Information about the Authority and PMLA || 2022 ||

VINODANANDA JHA HAS BEEN APPOINTED AS CHAIRPERSON OF PREVENTION OF MONEY LAUNDERING ACT (PMLA) ADJUDICATING AUTHORITY :

      Vinodananda Jha has been appointed as the Chairperson of the Prevention of Money Laundering Act (PMLA) Adjudicating Authority. Jha, a 1983-batch retired IRS officer, has been appointed in the post for five years. Earlier, he was the Principal Chief Commissioner of Income-tax in Pune.

      The PMLA Adjudicating Authority is a three-member body. It is responsible for prosecuting asset attachment cases issued under the Prevention of Money Laundering Act (PMLA) and ordering its continuation and further confiscation or release considering the merits of the investigation. The Prevention of Money Laundering Act, 2022 is an Act of the Parliament of India. The law was enacted by the NDA government with the aim of preventing money laundering and confiscating property from money laundering. The PMLA and the notified rules came into force on July 1, 2005.

SPECIAL NOTES FOR ASPIRANTS :

• The Prevention of Money Laundering Act, 2002 was enacted on January 17, 2003.

• The law was passed on January 17, 2003.

• The law was commenced on July 1, 2005.