9911796707
TMI Blog2023 (8) TMI 1408X X X X Extracts X X X X X X X X Extracts X X X X ..... bagh, Hyderabad [ 2023 (4) TMI 1199 - TELANGANA HIGH COURT ], has duly taken into consideration the judgment of the Hon ble Apex Court in Vijaya Madanlal Choudhary Vs Union of India - In the said judgment the Division Bench of Telangana High Court has taken the facts and circumstances of the case therein into consideration and held that if a person is finally discharged/acquitted of the scheduled offence or the criminal case registered against him is quashed by the Court of competent jurisdiction there can be no money laundering against him or any one claiming such property being the property linked in scheduled offence through him. However, in the present case, the provisional attachment took place on the ground that, predicative offenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to set aside the Provisional Attachment Order No.01/2023 dt 10.05.2023 and Original Complaint No.1996 of 2023 dt 08.06.2023 issued and pending before the Respondent No 3 and 4 respectively against the Petitioner Company and forthwith release the attachment and defreeze the Petitioner Company current account bearing no.037111100002740 Union Bank of India Machavaram Branch, Vijayawada and pass.. 2. Heard Sri N.Subba Rao, learned Senior counsel for the petitioner and Sri JUMV.Prasad, learned standing counsel for the respondents. 3. Learned Senior Counsel for the petitioner company in elaboration to what has been stated in the affidavit contended that, investigation under PMLA was initiated vide ECIR/VKSZO/027/2022 dated 31.05.2022 ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nline SC 929 Learned Senior Counsel for the petitioner further submits that, the judgment passed in W.A.No.107/2023 squarely applicable to the facts of the present case and draw the attention of this Court to the facts of the said case and prayed to consider the present writ petition also in the same lines. 4. On the other hand, Sri JUMV Prasad, learned standing counsel vehemently opposed the relief sought in the writ petition and on counter submitted that, prior to amendment of 2015, the first provisio acted as an impediment for taking such urgent measure even by the authorized officer, who is not less than the rank of Deputy Director and further contended that, the nuanced distinction must be kept in mind that to initiate prosecuti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 07/2023, has duly taken into consideration the judgment of the Hon ble Apex Court in Vijaya Madanlal Choudhary Vs Union of India which reads as follows: ...24. We may now deal with the decision of the Supreme court in Vijay Madanlal Choudhary (supra). Supreme court dealt with the expression proceeds of crime in the following manner: 2: 1. The proceeds of crime being the core of the ingredients constituting the offence of money-laundering, that expression needs to be construed strictly. In that, all properties recovered or attached by the investigating agency in connection with the criminal activity relating to a scheduled offence under the general law cannot be regarded as proceeds of crime. There may be cases where the prope ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f crime by war of any process or activity constitutes offence of money-laundering under Section 3 of the Act. 28. Thus, according to Supreme Court, the offence under Section 3 of PMLA is dependent on illegal gain of property as a result of criminal activity relating to a scheduled offence. If the person is finally discharged or acquitted of the scheduled offence or the criminal case against him is quashed by the court, there can be no offence of money laundering against him or anyone claiming such property being the property linked to the scheduled offence. It is immaterial for the purpose of PMLA whether acquittal is on merit or on composition. 8. A perusal of the said judgment, it shows that the criminal case therein was settle ..... X X X X Extracts X X X X X X X X Extracts X X X X
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