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Issues: Whether prosecution and trial for the offence under the Prevention of Money Laundering Act, 2002 must await prior conviction or conclusion of the trial for the scheduled offence.
Analysis: The offence of money laundering under Section 3 of the Prevention of Money Laundering Act, 2002 is linked to proceeds of crime derived from criminal activity relating to a scheduled offence, but the statutory scheme does not require that the scheduled offence must first be finally determined before the special court can proceed with the PMLA case. The Act provides for attachment, adjudication, cognizance by special court, and trial of both the scheduled offence and the money-laundering offence by the special court, and Section 71 gives the Act overriding effect over inconsistent laws. The practical reading adopted was that the special court may proceed with both matters, while the result of the scheduled-offence trial may be awaited for the purpose of proving liability under the PMLA.
Conclusion: The Special Court is competent to proceed simultaneously with the trial for the scheduled offence and the trial for the offence punishable under the Prevention of Money Laundering Act, 2002; prior completion of the scheduled-offence trial is not a prerequisite.
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