Money laundering case: Without scheduled offence, PMLA charges can't stand. Acquittal of accused in all FIRs removes basis for attachment order.

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....The Appellate Tribunal ruled on the validity of proceedings u/s Prevention of Money Laundering Act, 2002 without a scheduled offence. It held that without a scheduled offence, charges of money laundering cannot be sustained. The appellant was acquitted of all scheduled offences, removing the basis for the money laundering charge. The provisional attachment order and confirming order were deemed invalid. Without a scheduled offence, there can be no "proceeds of crime." The appeal was disposed of in favor of the appellants.....