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Issues: Whether the money-laundering complaint against the petitioner should be quashed for want of material establishing his involvement with proceeds of crime.
Analysis: Section 3 of the Prevention of Money Laundering Act, 2002 covers direct or indirect involvement, knowing assistance, or participation in processes connected with proceeds of crime, including their concealment, possession, acquisition, use, or projection as untainted property. The complaint and supporting material specifically attributed to the petitioner the receipt of loan funds ostensibly for construction materials and their immediate re-transfer, substantially in full, to the personal accounts of the principal accused. These transactions prima facie indicated knowing participation in routing, concealing, and disbursing the tainted funds. The earlier quashing in favour of the bank manager was distinguishable because no comparable material showed that the manager had assisted in handling or laundering the proceeds of crime.
Conclusion: The material prima facie disclosed the petitioner's involvement in the offence of money laundering; quashing was not warranted and the issue was decided against the petitioner.
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