Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
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Money-laundering under the PMLA is treated as a distinct statutory offence from the predicate or scheduled offence, despite factual interconnection. The article notes that conviction for the predicate offence does not create double jeopardy or bar continued PMLA prosecution because the laundering offence concerns dealings with proceeds of crime and has separate ingredients. Section 300 of the CrPC applies only to successive trials for the same offence or legally prohibited trials based on identical facts. Whether assets qualify as proceeds of crime must be determined on evidence by the Special Court and cannot be prematurely decided in proceedings under Section 482 of the CrPC. The discussed petitions were dismissed and the stay on PMLA proceedings was dissolved.
Money-laundering under the PMLA is treated as a distinct statutory offence from the predicate or scheduled offence, despite factual interconnection. The article notes that conviction for the predicate offence does not create double jeopardy or bar continued PMLA prosecution because the laundering offence concerns dealings with proceeds of crime and has separate ingredients. Section 300 of the CrPC applies only to successive trials for the same offence or legally prohibited trials based on identical facts. Whether assets qualify as proceeds of crime must be determined on evidence by the Special Court and cannot be prematurely decided in proceedings under Section 482 of the CrPC. The discussed petitions were dismissed and the stay on PMLA proceedings was dissolved.
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