High Court upholds search u/s 17 PMLA, overturning previous ruling; validates need to trace crime proceeds.

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....Validity of search - it was necessary to conduct search under Section 17 of PMLA in the premises mentioned in the note; to identify and seize available incriminating record/documents relating to the predicate offence and to the offence of money laundering; relating to the whereabouts of the proceeds of crime; to identify and trace the proceeds of crime; to recover incriminating documents relating to commission of the offence of money laundering. - Single Judge had erred in holding that no reasons to believe were recorded - Search action validated - HC....