The Kerala High Court has held that an accused is not barred from seeking transfer of a predicate offence case to a Special Court dealing with offences under the Prevention of Money Laundering Act (PMLA), even though Section 44(1)(c) of the PMLA specifically empowers the Enforcement Directorate to seek such committal.

The Court directed that the corruption case pending before Special CBI Court-I, Ernakulam be transferred to Special CBI Court-II, where the connected money laundering case is pending, so that both matters can be considered by the same judge.

The Supreme Court has held that merely calling a transaction a “loan” does not take it outside the scope of the Maharashtra Protection of Interest of Depositors (MPID) Act if the money was accepted with a promise of repayment and returns.

The Court said the definition of “deposit” under Section 2(c) of the MPID Act is intentionally broad and covers receipt of money to be returned with or without interest and applies to transactions accepted ‘in any other manner.’

The Supreme Court of India has clarified that an arbitration clause contained in an earlier redevelopment agreement can become binding in later agreements if those agreements clearly adopt all terms of the original contract.

The dispute arose after Hirani Developers entered into a redevelopment agreement with Nehru Nagar Samruddhi Co-operative Housing Society in 2011 for redevelopment of a dilapidated property. The agreement included an arbitration clause under Clause 36 for resolving disputes through a sole arbitrator.