Question
What is the qualification required for a person to be
appointed as Chairperson of the Appellate Tribunal under PMLA?Solution
Section 28(1) of PMLA provides that a person shall not be qualified for appointment as Chairperson of the Appellate Tribunal unless he is or has been a Judge of the Supreme Court or of a High Court or is qualified to be a judge of the High Court. Section 28(3) adds that no sitting Judge of the Supreme Court or of a High Court shall be appointed except after consultation with the Chief Justice of India. The Appellate Tribunal is constituted under Section 25 to hear appeals against orders of the Adjudicating Authority. A person may also serve simultaneously as Chairperson of another Tribunal under Section 28(4). This ensures high judicial credibility of the Appellate Tribunal.
A, B and C invest in a partnership in the ratio 7:5:9 and investment of A is Rs.200 less than investment of C. Partner B invests for 1/5th and A and C i...
X and Y started a business with initial investments of Rs. 4700 and Rs. 7200 respectively. After 3 months, X added Rs. 1200 to his investment. If the to...
A and B invested Rs. 25,000 and Rs. 30,000 in a shop. After 2 months, C joined with Rs. 20,000. If the profit after a year is Rs. 12,600, find Bβs sha...
βAβ started a business by investing Rs. 2000. Three months later, βBβ joined by investing Rs. βxβ. If at the end of the year βBβ receive...
βAβ, βBβ and βCβ started a business by investing Rs. 5,000, Rs. 6,000 and Rs. 4,000, respectively. After 6 months, βBβ decreased his inv...
Ram started a business with the capital investing Rs 6000. After 3 months Shyam also joined him, with the capital investing Rs 4000. They make a profit ...
'A' and 'B' began a business with investments of Rs. 8,000 and Rs. 15,500, respectively. After five months, 'A' increased his investment by 50%, while '...
A invest twice the sum invested by B and withdraws half of sum after 5 months and again withdraws half of the remaining sum after 6 months. Find ratio o...
'A', 'B' and 'C' started a business such that the sum invested by 'B' is (1/6)th of the total sum invested by all of them together and (1/2) of the sum...
A, B and C enter into a partnership, A invest (X + 5000), B invest (X + 15000) and C invest (5X + 2000) for one year if B share is 10000 from total prof...