https://www.taxtmi.com/caselaws?id=457271 Karnataka HC applied the settled principle that money-laundering liability under Section 3 of the Prevention of Money Laundering Act, 2002 depends on a scheduled offence and the alleged illegal gain arising from it. Because the petitioners had been finally acquitted in the predicate corruption case, the foundation for the ECIR, complaint, connected proceedings and attachment consequences failed. The Court held that proceedings under the PMLA could not continue on a mere assumption that the scheduled offence survived, and continuation in such circumstances would amount to abuse of process and miscarriage of justice. en-us Wed, 07 Sep 2022 00:00:00 +0530 Fri, 13 Sep 2024 13:55:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457271 Karnataka HC applied the settled principle that money-laundering liability under Section 3 of the Prevention of Money Laundering Act, 2002 depends on a scheduled offence and the alleged illegal gain arising from it. Because the petitioners had been finally acquitted in the predicate corruption case, the foundation for the ECIR, complaint, connected proceedings and attachment consequences failed. The Court held that proceedings under the PMLA could not continue on a mere assumption that the scheduled offence survived, and continuation in such circumstances would amount to abuse of process and miscarriage of justice. Case-Laws Money Laundering Wed, 07 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457271