Live Law

2024-03-27 07:40:38.0

  • Singhvi: In vicarious liability, law remains the same.

    Here is a case of complete vicarious liability. First, section 70 is being only section applied by ED. Two, section 70 specifically applies to companies. Three, whatever the language, the provision doesn't address political parties. Four, political parties are addressed under RP Act. Five, you can't subsume a definition of political party given under RPA in another statute, without PMLA naming the political party. You're actually doing violence to two Acts.

    Next Story