https://www.taxtmi.com/highlights?id=75915 Money Laundering - scheduled offences - cognizance of offence - The High court concluded that the allegations did not meet the necessary elements to constitute an offence under Section 3 of the PMLA. There was no prima facie evidence to suggest the petitioner knowingly facilitated the transfer of proceeds of the crime. The court emphasized that intent is crucial for constituting an offence under the PMLA, and such intent was not established against the petitioner. - The court quashed the proceedings against the petitioner, accused No. 7, stating that continuing the criminal proceedings would be an abuse of the process of law. en-us Thu, 21 Mar 2024 06:58:58 +0530 Thu, 21 Mar 2024 06:58:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75915 Money Laundering - scheduled offences - cognizance of offence - The High court concluded that the allegations did not meet the necessary elements to constitute an offence under Section 3 of the PMLA. There was no prima facie evidence to suggest the petitioner knowingly facilitated the transfer of proceeds of the crime. The court emphasized that intent is crucial for constituting an offence under the PMLA, and such intent was not established against the petitioner. - The court quashed the proceedings against the petitioner, accused No. 7, stating that continuing the criminal proceedings would be an abuse of the process of law. Highlights Money Laundering Thu, 21 Mar 2024 06:58:58 +0530 https://www.taxtmi.com/highlights?id=75915