https://www.taxtmi.com/caselaws?id=433172 The expression "proceeds of crime" is the foundation of money-laundering under the Prevention of Money-Laundering Act, 2002, and Section 3 covers not only projection as untainted property but also any direct or indirect involvement in a process or activity connected with such proceeds. Applying Vijay Madanlal Choudhary and Padmanabhan Kishore, the Court noted that allegations of active participation by a bank officer in sanctioning and disbursing loans, if accepted at face value, could amount to facilitation of the generation and movement of proceeds of crime. The prosecution therefore disclosed a prima facie case under Section 3, and the criminal proceedings were not liable to be quashed. en-us Fri, 16 Dec 2022 00:00:00 +0530 Mon, 23 Jan 2023 11:04:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433172 The expression "proceeds of crime" is the foundation of money-laundering under the Prevention of Money-Laundering Act, 2002, and Section 3 covers not only projection as untainted property but also any direct or indirect involvement in a process or activity connected with such proceeds. Applying Vijay Madanlal Choudhary and Padmanabhan Kishore, the Court noted that allegations of active participation by a bank officer in sanctioning and disbursing loans, if accepted at face value, could amount to facilitation of the generation and movement of proceeds of crime. The prosecution therefore disclosed a prima facie case under Section 3, and the criminal proceedings were not liable to be quashed. Case-Laws Money Laundering Fri, 16 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433172