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The HC dismissed the appeal challenging PMLA 2002 proceedings jurisdiction. Appellants argued that offences committed between June 2005-2007 preceded the Act's June 2009 amendment, rendering proceedings invalid. The court held that appellants continued dealing with immovable properties and crime proceeds post-amendment, establishing jurisdiction. Regarding pecuniary limits, the court determined that proceedings under Section 2(1)(y) Clause (i) require no minimum value threshold. Additionally, the crime proceeds exceeding Rs. 5.24 crores surpassed both pre and post-amendment limits of Rs. 30 lakhs. The court clarified that pecuniary jurisdiction depends on fraud quantum rather than property values, and since alleged offences fall under Schedule Part-A rather than Part-B, pecuniary limitations are inapplicable.
The HC dismissed the appeal challenging PMLA 2002 proceedings jurisdiction. Appellants argued that offences committed between June 2005-2007 preceded the Act's June 2009 amendment, rendering proceedings invalid. The court held that appellants continued dealing with immovable properties and crime proceeds post-amendment, establishing jurisdiction. Regarding pecuniary limits, the court determined that proceedings under Section 2(1)(y) Clause (i) require no minimum value threshold. Additionally, the crime proceeds exceeding Rs. 5.24 crores surpassed both pre and post-amendment limits of Rs. 30 lakhs. The court clarified that pecuniary jurisdiction depends on fraud quantum rather than property values, and since alleged offences fall under Schedule Part-A rather than Part-B, pecuniary limitations are inapplicable.
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TaxTMI 
TaxTMI 
of 4915 
