Addressing the delegates at the Workshop on Prohibition of Money Laundering & Benami Laws Recent Trends and Impacts held at PHD House, New Delhi, today, the Chief Guest Mr. Balwinder Singh, Advisor, Ministry of Corporate Affairs & SFIO and Former Special Director, CBI highlighted about the Money Laundering Act and its structural formation. He further thanked and appreciated PHD Chamber of Commerce and Industry for providing the opportunity.

Mr. Singh reiterated that the Act is applicable to dirty money and not black money. Citing the cases, Mr. Singh also highlighted disassociating the illegal money from the source of the crime by creating a complex web of financial transactions for concealing its source, trail and ownership.

via: Indian Express

Mr. Vijay Jhalani, Co-Chairman, Corporate Affairs Committee, PHD Chamber while addressing a distinguished audience highlighted the three stages involved in Money Laundering Act which are assimilating of proceeds of crime into the financial system; routing of assimilated proceeds of crime to hide its source and re-introduction of the proceeds of crime subsequent to above two stages to project such proceeds of crime as white money.

Dr. Shamsuddin Shams, Founder Member & Managing Partner, Shams Legal LLP spoke on Understanding of Key Issues under PMLA; Mr. R K Handoo, Advocate highlighted the Nuances of Prosecution by Enforcement Directorate under PMLA, FEMA and by SFIO under Companies Act, 2013 and Mr. Ashwani Taneja, Advocate, Ex-Member, Income Tax Appellate Tribunal discussed the Interplay between PMLA, Benami Law, Black Money, Income Tax and FEMA.

The conference was attended by more than 100 delegates from the field of Company Secretary and Chartered Accountancy among others.

China’s richest man Jack Ma who is the founder of the famous e-commerce company, Alibaba is all set to donate 1.8 million face masks and 100,000 Coronavirus test kits to European countries to help combat the outbreak of contagious endemic Coronavirus. He also announced his plan on a Chinese social media site, Weibo as well. He said that he will donate the masks and kits to those countries that are severely affected by the outbreak including Italy and Spain.

Jack Ma said, “Fortunately, although cross-country transport for counter-epidemic goods has been difficult, we learned that the eWTP (The Electronic World Trade Platform) hub in Europe’s Liege Airport is operating well and can act as a lifeline to assist us to deliver our continuous aids to Europe to those in need.

“Although we live thousands of miles apart, we will race against the clock in hopes of providing emergency help to [the countries in need] and overcoming difficulties together.” – Jack MA

This is not for the first time Ma has helped tackle the Covid-19 outbreak. In January also, he has donated 100 million Yuan to the Chinese scientists who are working on a vaccine for the virus.

Coronavirus Test Kits via: The Wall Street Journal

Jack ma said that these funds will be used to support the development of a coronavirus vaccine adding that 20 million Yuan would go to both the Chinese Academy of Sciences and the Chinese Academy of Engineering for the current research and development of virus vaccines.

The foundation said in this support, “The remaining funds will be used to support domestic and foreign top scientific research institutions and researchers to collaborate.”

Also read: How The Coronavirus Outbreak In China Is Affecting The World Economy?

Even the World Health Organisation (WHO) has also declared this virus as a Pandemic which is not a word to use lightly or carelessly. It is a word that, if misused, can cause unreasonable fear, or unjustified acceptance that the fight is over, leading to unnecessary suffering and death”.

via: Pexels

“Describing the situation as a pandemic does not change WHO’s assessment of the threat posed by this coronavirus. It doesn’t change what the WHO is doing, and it doesn’t change what countries should do.

Also read: 8 Preventive Measures You Should Take To Avoid The Spread Of Contagious Coronavirus

“We have never before seen a pandemic sparked by a coronavirus. And we have never before seen a pandemic that can be controlled at the same time. WHO has been in full response mode since we were notified of the first cases”.

“We have called every day for countries to take urgent and aggressive action. We have rung the alarm bell loud and clear.”

Featured image source: NexChangeNOW

It was found that the contagious Coronavirus could be contained once the mercury rises. However, experts have found that there is no relation between the rise in temperature and the outbreak of Coronavirus. It has dampened the hopes of the researchers. Till now, India has reported 43 cases so far in the National Capital Region (NCR). Indian Council of Medical Research director-general Balram Bhargava said the change in weather will not have any impact on the spread of the Coronavirus.

It was claimed that the virus spreads at low temperatures, but there are no such findings until now.

There is no correlation between the temperature variation and the outbreak of the virus. He said that the virus does not spread through the air but with human contact.

The experts have said that COVID-19 spreads through human contact. To avoid spreading the virus, humans should avoid mass gathering and wash their hands properly regularly.

As per the research findings, humidity in the air generally helps the virus to grow.

He further said, “But the rise in the temperature does not necessarily mean this will help kill the virus noting that tropical countries like Singapore, which has a hot and humid climate, also face the threat of coronavirus“.

In nutshell, there is no relation between the rise or fall in the temperature and the spread of Coronavirus is yet to be proved.

Featured image source: Al Jazeera