https://www.taxtmi.com/caselaws?id=762009 The High Court's inherent power under Section 482 was described as available to the Enforcement Directorate where acceptance of a closure report in the predicate offence would frustrate PMLA proceedings based on identified proceeds of crime. The Court reasoned that the ED had sufficient locus because the impugned closure directly affected tracing and confiscation of tainted assets, and that ante-dating of the sale agreement, if established on the record, indicated fabrication and forgery. The mechanically accepted closure report was held contrary to the materials and productive of miscarriage of justice, so the acceptance order was quashed and the predicate offence permitted to continue in accordance with law. en-us Mon, 28 Oct 2024 00:00:00 +0530 Fri, 22 Nov 2024 07:50:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762009 The High Court's inherent power under Section 482 was described as available to the Enforcement Directorate where acceptance of a closure report in the predicate offence would frustrate PMLA proceedings based on identified proceeds of crime. The Court reasoned that the ED had sufficient locus because the impugned closure directly affected tracing and confiscation of tainted assets, and that ante-dating of the sale agreement, if established on the record, indicated fabrication and forgery. The mechanically accepted closure report was held contrary to the materials and productive of miscarriage of justice, so the acceptance order was quashed and the predicate offence permitted to continue in accordance with law. Case-Laws Money Laundering Mon, 28 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762009