High Court Dismisses PMLA Case Against Developer, Rules Contract Dispute Civil in Nature Due to Substantial Work Completion.

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....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.....