The HC held that the petitioner is a bona fide purchaser who ...

Bona fide property purchase before crime not covered under PMLA sans evidence of involvement.

December 31, 2024

Case Laws     Money Laundering     HC

The HC held that the petitioner is a bona fide purchaser who acquired the property before the predicate offence was registered. A bona fide purchaser who acquires property prior to any predicate offence cannot be subjected to proceedings under the PMLA without evidence of conspiracy or direct involvement. The impugned proceedings against the petitioner were held unsustainable in the peculiar facts of the case. The petition was allowed.

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