https://www.taxtmi.com/caselaws?id=449583 SC held that for an offence under Section 3 PMLA, existence of "proceeds of crime" derived from scheduled offences under Section 2(u) is a condition precedent. On examining the material, the Court found no prima facie indication that the assets allegedly held by the appellant were derived from any predicate offence. The allegations at best related to possession of unaccounted money and illegal acquisition of properties, without linkage to scheduled offences. Both bail conditions under Section 45(1)(ii) were satisfied. The appeal was allowed and the appellant was granted bail. en-us Fri, 02 Feb 2024 00:00:00 +0530 Thu, 20 Nov 2025 11:12:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449583 SC held that for an offence under Section 3 PMLA, existence of "proceeds of crime" derived from scheduled offences under Section 2(u) is a condition precedent. On examining the material, the Court found no prima facie indication that the assets allegedly held by the appellant were derived from any predicate offence. The allegations at best related to possession of unaccounted money and illegal acquisition of properties, without linkage to scheduled offences. Both bail conditions under Section 45(1)(ii) were satisfied. The appeal was allowed and the appellant was granted bail. Case-Laws Money Laundering Fri, 02 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449583