https://www.taxtmi.com/caselaws?id=308813 The court dismissed the petition, upholding the validity of the Supplementary Complaint, cognizance order, and the criminal proceedings under the Prevention of Money Laundering Act, 2002. The court found direct allegations against the petitioner for benefiting from proceeds of crime through a company. Emphasizing the seriousness of the allegations, the court stated that being cleared by the Income Tax Department does not invalidate the allegations. The court also noted the petitioner's vicarious liability as a director and his absconding status, upholding the process issued against him. The interim protection granted was vacated. en-us Thu, 03 Nov 2022 00:00:00 +0530 Mon, 24 Jul 2023 21:20:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308813 The court dismissed the petition, upholding the validity of the Supplementary Complaint, cognizance order, and the criminal proceedings under the Prevention of Money Laundering Act, 2002. The court found direct allegations against the petitioner for benefiting from proceeds of crime through a company. Emphasizing the seriousness of the allegations, the court stated that being cleared by the Income Tax Department does not invalidate the allegations. The court also noted the petitioner's vicarious liability as a director and his absconding status, upholding the process issued against him. The interim protection granted was vacated. Case-Laws Money Laundering Thu, 03 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308813