https://www.taxtmi.com/highlights?id=81452 Money laundering case involving proceeds of crime from scheduled offence of conspiracy to siphon crores of rupees deposited by innocent bank depositors. Key points: Offence u/s 3 of PMLA requires illegal gain of property from a scheduled offence, which is a prerequisite for prosecution. Prosecution cannot be initiated on notional basis or assumption of scheduled offence without it being registered with police or pending inquiry/trial. If accused is discharged/acquitted of scheduled offence or case quashed, no money laundering offence can be made out. Subsequent FIR cannot be subsumed into existing ECIR without satisfying requirements. ECIR based on scheduled offence of cheating under IPC. Well-settled that money laundering offence depends o..... en-us Wed, 18 Sep 2024 07:53:02 +0530 Wed, 18 Sep 2024 07:53:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=81452 Money laundering case involving proceeds of crime from scheduled offence of conspiracy to siphon crores of rupees deposited by innocent bank depositors. Key points: Offence u/s 3 of PMLA requires illegal gain of property from a scheduled offence, which is a prerequisite for prosecution. Prosecution cannot be initiated on notional basis or assumption of scheduled offence without it being registered with police or pending inquiry/trial. If accused is discharged/acquitted of scheduled offence or case quashed, no money laundering offence can be made out. Subsequent FIR cannot be subsumed into existing ECIR without satisfying requirements. ECIR based on scheduled offence of cheating under IPC. Well-settled that money laundering offence depends o..... Highlights Money Laundering Wed, 18 Sep 2024 07:53:02 +0530 https://www.taxtmi.com/highlights?id=81452