Saturday, April 20, 2024
HomeLawPMLA cannot be invoked citing criminal conspiracy under Section 120B IPC unless...

PMLA cannot be invoked citing criminal conspiracy under Section 120B IPC unless conspiracy is for money laundering: Supreme Court

The Court explained that if a standalone allegation under Section 120B of the Indian Penal Code (IPC) is allowed to be treated as sufficient to launch a PMLA probe, then any and every offence under the IPC could attract PMLA.

“Every crime which may generate proceeds of crime need not be a scheduled offence. Therefore, only certain specific offences have been included in the Schedule … even if an offence registered is not a scheduled offence, the provisions of the PMLA and, in particular, Section 3 will be invoked by simply applying Section 120­B,” the bench reasoned.

Source: Barandbench

RELATED ARTICLES
- Advertisment -

Most Popular

Recent Comments