https://www.taxtmi.com/caselaws?id=294343 Section 2(2) of the Prevention of Money Laundering Act was applied to treat the local law in force in Jammu and Kashmir as the corresponding provision where the Indian Penal Code was not in force, so criminal conspiracy under Section 120-B of the Ranbir Penal Code was regarded as a deemed scheduled offence. On that basis, the Court held that proceeds derived from that offence could constitute proceeds of crime, and activity connected with them could fall within the money-laundering provisions. The absence of other alleged predicate offences from the Schedule did not defeat the PMLA proceedings, and the summons and investigation were upheld. en-us Tue, 15 Oct 2019 00:00:00 +0530 Wed, 07 Apr 2021 09:14:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294343 Section 2(2) of the Prevention of Money Laundering Act was applied to treat the local law in force in Jammu and Kashmir as the corresponding provision where the Indian Penal Code was not in force, so criminal conspiracy under Section 120-B of the Ranbir Penal Code was regarded as a deemed scheduled offence. On that basis, the Court held that proceeds derived from that offence could constitute proceeds of crime, and activity connected with them could fall within the money-laundering provisions. The absence of other alleged predicate offences from the Schedule did not defeat the PMLA proceedings, and the summons and investigation were upheld. Case-Laws Money Laundering Tue, 15 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294343