Money laundering is an independent offence, to which the rigors of Section 45 of PMLA apply
Offences under Sections 3 and 4 of the Prevention of Money Laundering Act (PMLA) were separate offences which were independent of the offences mentioned in the schedule of PMLA.
Contention was that the Act had broadly defined ‘money laundering’ to include all activities leading to the actual laundering and those criminal activities were not dependent on the offences mentioned under the schedule of the PMLA.
He submitted that even if the Court concluded that the “predicate offence” which has led to the money laundering is quashed, the offence of money laundering will independently survive.
ASG submitted that the relief Malik was seeking was essentially in the nature of release from detention which was in the nature of bail.
In view of this, the twin conditions under Section 45 (II) under PMLA would apply, he argued.
As per the same, the Court has to be satisfied that there are reasonable grounds for believing that the accused is not guilty of the offence or is not likely to commit any offence while on bail.
Source: Barandbench
