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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