https://www.taxtmi.com/caselaws?id=403383 Proceedings under the Prevention of Money Laundering Act, 2002 may continue on the basis of proceeds of crime even if the predicate offence is closed, because money laundering is treated as a continuing offence and does not depend on conviction or pendency of the underlying offence. The provisional attachment was upheld where recorded reasons and supporting material showed a basis to believe that the property represented proceeds of crime, and the statutory adjudicatory remedy had already been invoked. By contrast, the cognizance and summons order was set aside because it did not show application of mind or a prima facie judicial satisfaction, and the matter was remanded for fresh consideration. en-us Thu, 17 Dec 2020 00:00:00 +0530 Wed, 27 Jan 2021 19:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403383 Proceedings under the Prevention of Money Laundering Act, 2002 may continue on the basis of proceeds of crime even if the predicate offence is closed, because money laundering is treated as a continuing offence and does not depend on conviction or pendency of the underlying offence. The provisional attachment was upheld where recorded reasons and supporting material showed a basis to believe that the property represented proceeds of crime, and the statutory adjudicatory remedy had already been invoked. By contrast, the cognizance and summons order was set aside because it did not show application of mind or a prima facie judicial satisfaction, and the matter was remanded for fresh consideration. Case-Laws Money Laundering Thu, 17 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403383