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HC quashed PMLA proceedings against the applicant, finding no prima facie evidence of money laundering. The court determined that mere assistance in generating proceeds of crime does not constitute an offense under Section 3 of PMLA, as the applicant was not alleged to have been involved in placement, layering, or integration stages of money laundering. The proceedings were deemed persecutory, given the lack of substantial progress in the case over 15 years, and the absence of direct involvement in criminal financial activities. The complaint, cognizance order, and entire PMLA proceedings were consequently set aside.
HC quashed PMLA proceedings against the applicant, finding no prima facie evidence of money laundering. The court determined that mere assistance in generating proceeds of crime does not constitute an offense under Section 3 of PMLA, as the applicant was not alleged to have been involved in placement, layering, or integration stages of money laundering. The proceedings were deemed persecutory, given the lack of substantial progress in the case over 15 years, and the absence of direct involvement in criminal financial activities. The complaint, cognizance order, and entire PMLA proceedings were consequently set aside.
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