https://www.taxtmi.com/caselaws?id=446757 Proceedings under the Prevention of Money Laundering Act, 2002 require a live predicate scheduled offence giving rise to proceeds of crime. Where the police refer report found no scheduled offence and the jurisdictional court accepted that report, the statutory foundation for money-laundering action fell away and continuation of proceedings was not sustainable. A pending protest complaint did not revive that foundation because it did not disclose a scheduled offence, and later allegations based on unscheduled offences could not support the Act's invocation. The commentary states that ancillary action under the PMLA cannot survive once the underlying predicate offence is extinguished on the record. en-us Wed, 06 Dec 2023 00:00:00 +0530 Sat, 09 Dec 2023 09:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446757 Proceedings under the Prevention of Money Laundering Act, 2002 require a live predicate scheduled offence giving rise to proceeds of crime. Where the police refer report found no scheduled offence and the jurisdictional court accepted that report, the statutory foundation for money-laundering action fell away and continuation of proceedings was not sustainable. A pending protest complaint did not revive that foundation because it did not disclose a scheduled offence, and later allegations based on unscheduled offences could not support the Act's invocation. The commentary states that ancillary action under the PMLA cannot survive once the underlying predicate offence is extinguished on the record. Case-Laws Money Laundering Wed, 06 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446757