https://www.taxtmi.com/caselaws?id=309356 The court quashed the prosecution against the petitioners, Sivaramakrishnan and his wife Ratha, in C.C.No.71 of 2016 under the Prevention of Money Laundering Act. It was found that the evidence presented did not establish their criminal liability for financial misconduct and diversion of funds by FLCI. The court rejected the claims of discrimination and selective prosecution, concluding that the proceeds of crime were not acquired beyond legitimate earnings. Therefore, the prosecution under the PMLA was deemed misconceived, leading to the quashing of the proceedings against the petitioners. en-us Thu, 04 Feb 2021 00:00:00 +0530 Sun, 27 Aug 2023 11:39:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309356 The court quashed the prosecution against the petitioners, Sivaramakrishnan and his wife Ratha, in C.C.No.71 of 2016 under the Prevention of Money Laundering Act. It was found that the evidence presented did not establish their criminal liability for financial misconduct and diversion of funds by FLCI. The court rejected the claims of discrimination and selective prosecution, concluding that the proceeds of crime were not acquired beyond legitimate earnings. Therefore, the prosecution under the PMLA was deemed misconceived, leading to the quashing of the proceedings against the petitioners. Case-Laws Money Laundering Thu, 04 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309356