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TMI BlogPMLA and Predicate Offenses: Deciphering the Scope of Proceeds of Crime under PMLA: A Supreme Court AnalysisX X X X Extracts X X X X X X X X Extracts X X X X ..... gations under the Prevention of Money Laundering Act (PMLA), 2002 , presents a significant exploration of the legal intricacies associated with the Act. This extensive analysis delves into the judgment's approach to interpreting the PMLA, particularly focusing on the concepts of 'proceeds of crime' and the implication of not being named as an accused in the predicate offense. II. F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... perties in question were not 'proceeds of crime' as defined under the PMLA. The appellant also argued that since they were not named as an accused in the predicate offenses, they could not be implicated under the PMLA. Respondent's Submissions : The ED contended that the financial capacity to acquire the properties was questionable and suggested that these acquisitions could ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... : In a significant ruling, the Court held that an offense under Section 120B of the IPC (Indian Penal Code) becomes a scheduled offense only if the conspiracy is to commit an offense already listed in the Schedule of the PMLA. This interpretation narrows the scope of what constitutes a scheduled offense under the PMLA. Application to the Case : The Court found that the first property cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nuanced interpretation of the PMLA, balancing the need to combat money laundering with the principles of justice. The judgment's emphasis on the need for a direct link between the proceeds of crime and the predicate offense adds clarity to the application of the PMLA. Full Text : 2023 (12) TMI 49 - Supreme Court - FAQ - Frequently Asked Questions, TMI Short Notes , Experts ..... X X X X Extracts X X X X X X X X Extracts X X X X
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