https://www.taxtmi.com/caselaws?id=295550 Allegations of cheating, forgery, corruption and diversion of loan funds were held not to be merely civil in nature, because the record disclosed fraudulent conduct, false accounting and alleged diversion of public money; criminal proceedings were therefore not quashed. Delay in lodging the complaint and the former director's plea of non-liability were treated as matters for investigation, not grounds to stop prosecution at the writ stage. The Prevention of Money-Laundering Act proceedings and freezing of bank accounts were also upheld as independent of the predicate offence, and conviction in that offence was not treated as a precondition for attachment or freezing action. en-us Thu, 13 Aug 2020 00:00:00 +0530 Wed, 09 Jun 2021 09:24:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295550 Allegations of cheating, forgery, corruption and diversion of loan funds were held not to be merely civil in nature, because the record disclosed fraudulent conduct, false accounting and alleged diversion of public money; criminal proceedings were therefore not quashed. Delay in lodging the complaint and the former director's plea of non-liability were treated as matters for investigation, not grounds to stop prosecution at the writ stage. The Prevention of Money-Laundering Act proceedings and freezing of bank accounts were also upheld as independent of the predicate offence, and conviction in that offence was not treated as a precondition for attachment or freezing action. Case-Laws Money Laundering Thu, 13 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295550