https://www.taxtmi.com/caselaws?id=750845 The HC dismissed petitions seeking to quash PMLA proceedings. The court held that PMLA prosecution can proceed independently of predicate offence proceedings, as the accused in PMLA cases need not be identical to those in scheduled offence cases. The common element required is proceeds of crime, not the offenders. Money laundering encompasses placement, layering, and integration stages, with Section 3 having wide reach to capture all processes involving proceeds of crime. The 2019 amendment's explanation to Section 3 was clarificatory, not expansive. Since the predicate offence trial had concluded with convictions, the PMLA prosecution could validly proceed at any stage of the money laundering process. en-us Tue, 19 Mar 2024 00:00:00 +0530 Mon, 01 Apr 2024 19:24:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750845 The HC dismissed petitions seeking to quash PMLA proceedings. The court held that PMLA prosecution can proceed independently of predicate offence proceedings, as the accused in PMLA cases need not be identical to those in scheduled offence cases. The common element required is proceeds of crime, not the offenders. Money laundering encompasses placement, layering, and integration stages, with Section 3 having wide reach to capture all processes involving proceeds of crime. The 2019 amendment's explanation to Section 3 was clarificatory, not expansive. Since the predicate offence trial had concluded with convictions, the PMLA prosecution could validly proceed at any stage of the money laundering process. Case-Laws Money Laundering Tue, 19 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750845