2018 (7) TMI 1979 - HC - Money Laundering

Prevention of Money Laundering Act, 2005 applicability to cases where the scheduled offences have been committed prior to the enactment - HELD THAT - Issue notice. Respondents accepts notice and seeks time to file a reply. In the meantime, the proceedings before the Adjudicating Authority may continue. However, orders, if any, shall not be implemented. It is clarified that the provisional attachment shall continue to be operative. List on 05.02.2019.

Summary

The Delhi High Court allowed exemption subject to exceptions in a case questioning the applicability of the Prevention of Money Laundering Act, 2005 to offenses committed before its enactment. The court issued notice and allowed proceedings to continue before the Adjudicating Authority, with provisional attachment remaining in effect. The case was listed for further hearing on 05.02.2019.