The AT found the appellant Company culpable of cheating under ...

Company Officials Orchestrate Massive Financial Fraud, Manipulate Stock Exchange Through Deliberate Conspiracy Scheme Under Section 420 IPC

April 14, 2025

Case Laws     Money Laundering     AT

The AT found the appellant Company culpable of cheating under Section 420 IPC through a deliberate conspiracy with NSE officials, resulting in wrongful gain of 4.54 crore. The tribunal determined the actions constituted money laundering under PMLA Section 3, involving intentional projection of illegitimate proceeds as legitimate income. Despite arguments challenging the allegations, the tribunal rejected the appellant's contentions, emphasizing the systematic nature of the fraudulent scheme involving high-ranking officials. The appeal was consequently dismissed, affirming the criminal liability of the appellant for fraudulent financial transactions and breach of statutory obligations.

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