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2022 (9) TMI 1492 - HC - Money LaunderingMoney Laundering - the Settlement Commissioner completed the work that was assigned to him and submitted a report to this court, based on which, the prosecution in C.C. No. 3876 of 2009 was quashed by this Court - HELD THAT:- Reliance placed in the case of [2022 (7) TMI 1316 - SUPREME COURT], where it was held that The offence under Section 3 of the 2002 Act is dependent on illegal gain of property as a result of criminal activity relating to a scheduled offence. It is concerning the process or activity connected with such property, which constitutes the offence of money-laundering. The Authorities under the 2002 Act cannot prosecute any person on notional basis or on the assumption that a scheduled offence has been committed, unless it is so registered with the jurisdictional police and/or pending enquiry/trial including by way of criminal complaint before the competent forum. If the person is finally discharged/acquitted of the scheduled offence or the criminal case against him is quashed by the Court of competent jurisdiction, there can be no offence of money-laundering against him or any one claiming such property being the property linked to stated scheduled offence through him. In view of the aforesaid categorical pronouncement of the Supreme Court, the quash petition deserves to be allowed since the prosecution of the accused in the predicate offence has already been quashed by this court - petition allowed.
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