The High Court dismissed the criminal revision petition filed by ...

High Court Upholds Order in Money Laundering Case, Cites Prima Facie Evidence of Illicit Mining and Rs. 261.89 Crore Proceeds.

December 13, 2024

Case Laws     Money Laundering     HC

The High Court dismissed the criminal revision petition filed by the petitioners challenging the order rejecting their discharge petition in a money laundering case. The court held that there were prima facie materials showing illicit mining and generation of proceeds of crime valued at Rs. 261.89 crores. It observed that u/s 3 of the Prevention of Money Laundering Act, concealment of the proceeds of crime itself constitutes the offence of money laundering. The prosecution need not demonstrate the money trail or identify the proceeds of crime if they have been concealed. The court invoked the presumption u/s 24(b) of the Act against the petitioners, considering the quantum of money involved and the nature of allegations. The petitioners have to rebut the presumption during the trial. The High Court found no grounds to interfere with the well-reasoned order of the lower court rejecting the discharge petition.

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