https://www.taxtmi.com/caselaws?id=428341 The constitutional challenge to the Prevention of Money Laundering Act provisions was held infructuous because the Supreme Court had already conclusively decided the validity issue. On the PMLA proceedings, the ECIR could not survive once the scheduled offence and the FIR forming its foundation were quashed. Section 66(2) was treated only as an information-sharing provision, not an independent source of jurisdiction to continue money-laundering action. In the absence of any subsisting predicate offence against the petitioners, the ECIR, summons, coercive steps and look out circulars were quashed. en-us Mon, 26 Sep 2022 00:00:00 +0530 Wed, 28 Sep 2022 20:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428341 The constitutional challenge to the Prevention of Money Laundering Act provisions was held infructuous because the Supreme Court had already conclusively decided the validity issue. On the PMLA proceedings, the ECIR could not survive once the scheduled offence and the FIR forming its foundation were quashed. Section 66(2) was treated only as an information-sharing provision, not an independent source of jurisdiction to continue money-laundering action. In the absence of any subsisting predicate offence against the petitioners, the ECIR, summons, coercive steps and look out circulars were quashed. Case-Laws Money Laundering Mon, 26 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428341