Proceeds of crime and money laundering: PMLA prosecution requires subsisting predicate offence; discharge of predicate accused precludes further prosecution.

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....PMLA liability is contingent on a subsisting scheduled (predicate) offence and identifiable proceeds of crime; absent generation of proceeds, layering or siphoning cannot be established and prosecution under sections 3 read with 4 cannot be sustained. Appellate orders setting aside provisional and confirmed attachments, together with final discharge of accused in the predicate offences, remove the legal basis for continuing money-laundering proceedings and the associated property attachments; those applicants who sought discharge should be released from the money-laundering charge. Proceedings remain undetermined only for accused who have not secured discharge or whose challenges are pending.....