https://www.taxtmi.com/caselaws?id=312863 The Madras HC quashed PMLA proceedings against a petitioner convicted under Sections 120B, 409 r/w 109 IPC. Following SC precedent in Pavana Dibbur, the court held that criminal conspiracy (Section 120B) alone cannot constitute a scheduled offence under PMLA. Since the predicate offence was conspiracy to commit breach of trust (Section 409), which is not a scheduled offence, no proceeds of crime could arise from a scheduled offence. The court ruled that ED lacked jurisdiction to invoke PMLA provisions and set aside the proceedings and provisional attachment order. en-us Fri, 05 Jan 2024 00:00:00 +0530 Tue, 12 Mar 2024 14:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312863 The Madras HC quashed PMLA proceedings against a petitioner convicted under Sections 120B, 409 r/w 109 IPC. Following SC precedent in Pavana Dibbur, the court held that criminal conspiracy (Section 120B) alone cannot constitute a scheduled offence under PMLA. Since the predicate offence was conspiracy to commit breach of trust (Section 409), which is not a scheduled offence, no proceeds of crime could arise from a scheduled offence. The court ruled that ED lacked jurisdiction to invoke PMLA provisions and set aside the proceedings and provisional attachment order. Case-Laws Money Laundering Fri, 05 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312863