https://www.taxtmi.com/caselaws?id=446194 Proceedings under the Prevention of Money Laundering Act, 2002 cannot survive where the underlying scheduled offence has been finally extinguished by compounding or quashing, because the predicate offence is the jurisdictional foundation for action under Section 3. The Court therefore quashed the money-laundering proceedings linked to the first two FIRs. However, an ECIR is an internal record and is not equated with an FIR; the later FIR, involving the same project and disclosing a fresh subsisting scheduled offence, could validly be taken on record in the existing ECIR. Investigation was therefore permitted to continue only in relation to that later offence. en-us Fri, 24 Nov 2023 00:00:00 +0530 Mon, 27 Nov 2023 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446194 Proceedings under the Prevention of Money Laundering Act, 2002 cannot survive where the underlying scheduled offence has been finally extinguished by compounding or quashing, because the predicate offence is the jurisdictional foundation for action under Section 3. The Court therefore quashed the money-laundering proceedings linked to the first two FIRs. However, an ECIR is an internal record and is not equated with an FIR; the later FIR, involving the same project and disclosing a fresh subsisting scheduled offence, could validly be taken on record in the existing ECIR. Investigation was therefore permitted to continue only in relation to that later offence. Case-Laws Money Laundering Fri, 24 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446194