https://www.taxtmi.com/caselaws?id=196502 A successor company could not be proceeded against for alleged money-laundering acts attributed to the former management where the record showed the company lacked knowledge or active involvement and was treated as a victim of the fraud rather than the perpetrator. Liability under the money-laundering framework requires direct or indirect involvement in the handling and projection of proceeds of crime, which was not established on the complaint. The later-added IPC provisions and corresponding schedule entries also could not be applied to conduct alleged to have occurred before their insertion, as criminal liability cannot be created retrospectively. The complaint and cognizance against the petitioner company were therefore unsustainable. en-us Mon, 22 Dec 2014 00:00:00 +0530 Sun, 03 Dec 2017 10:01:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196502 A successor company could not be proceeded against for alleged money-laundering acts attributed to the former management where the record showed the company lacked knowledge or active involvement and was treated as a victim of the fraud rather than the perpetrator. Liability under the money-laundering framework requires direct or indirect involvement in the handling and projection of proceeds of crime, which was not established on the complaint. The later-added IPC provisions and corresponding schedule entries also could not be applied to conduct alleged to have occurred before their insertion, as criminal liability cannot be created retrospectively. The complaint and cognizance against the petitioner company were therefore unsustainable. Case-Laws Money Laundering Mon, 22 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196502