https://www.taxtmi.com/highlights?id=85099 HC quashed criminal proceedings under PMLA and IPC sections, finding insufficient evidence of 'proceeds of crime' as defined u/s 2(1)(u) of PMLA. The court determined that M/s. A (developer) had substantially fulfilled contractual obligations, with B (complainant) acknowledging completion of works except for a minor outstanding amount. The dispute was deemed civil in nature, lacking criminal intent required for charges of cheating. The court criticized the ED's allegations regarding non-delivery of services as unfounded, given documented evidence of work completion and corresponding payments. The matter was characterized as a contractual dispute inappropriately converted into criminal proceedings, resulting in dismissal with observations on potential exemplary costs against complainant and ED for harassment. en-us Thu, 23 Jan 2025 08:39:36 +0530 Thu, 23 Jan 2025 08:39:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=85099 HC quashed criminal proceedings under PMLA and IPC sections, finding insufficient evidence of 'proceeds of crime' as defined u/s 2(1)(u) of PMLA. The court determined that M/s. A (developer) had substantially fulfilled contractual obligations, with B (complainant) acknowledging completion of works except for a minor outstanding amount. The dispute was deemed civil in nature, lacking criminal intent required for charges of cheating. The court criticized the ED's allegations regarding non-delivery of services as unfounded, given documented evidence of work completion and corresponding payments. The matter was characterized as a contractual dispute inappropriately converted into criminal proceedings, resulting in dismissal with observations on potential exemplary costs against complainant and ED for harassment. Highlights Money Laundering Thu, 23 Jan 2025 08:39:36 +0530 https://www.taxtmi.com/highlights?id=85099