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Issues: Whether the ECIR and charge-sheet under the Prevention of Money Laundering Act, 2002 could survive after the petitioners had been finally discharged from the predicate offence.
Analysis: The petitioners had been discharged from the scheduled offence by a final order that had attained finality. The decision in Vijay Madanlal Choudhary was applied to hold that the offence under Section 3 of the Prevention of Money Laundering Act, 2002 is dependent on the existence of a scheduled offence, and that once the accused is finally discharged or acquitted in the scheduled offence, there can be no money-laundering prosecution against him in relation to that property. The contrary view referred to by the respondents was not treated as controlling, and the later Supreme Court decision in Pavana Dibbur was read consistently with the binding principle in Vijay Madanlal Choudhary.
Conclusion: The ECIR and the consequential charge-sheet against the petitioners were liable to be quashed and set aside.
Ratio Decidendi: Prosecution under Section 3 of the Prevention of Money Laundering Act, 2002 cannot continue against a person who has been finally discharged or acquitted in the predicate offence on which the alleged money-laundering case is founded.
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