Vinodanand Jha has been appointed as the Chairperson of the Prevention of Money Laundering Act (PMLA) Adjudicating Authority, for a period of 5 years. Jha is a 1983-batch retired IRS officer, who was serving as the Principal Chief Commissioner of Income Tax in Pune before this.
About the PMLA Adjudicating Authority:
The PMLA Adjudicating Authority is a three-member body whose mandated is to adjudicate the cases of attachment of assets orders issued under the Prevention of Money Laundering Act (PMLA) and order for its continuity and further confiscation or release, considering the merits of the investigation.
Prevention of Money Laundering Act, 2002 is an Act of the Parliament of India enacted by the NDA government to prevent money laundering and to provide for confiscation of property derived from money laundering. PMLA and the Rules notified there under came into force with effect from July 1, 2005.