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2021 (1) TMI 569 - HC - Money LaunderingMoney Laundering - proceeds of crime - assets disproportionate to known source of income - existence of predicate offence or not - scheduled offence or not - direct allegations are leveled against the accused attracting the ingredients of the offence under section 3 of the PML Act - HELD THAT:- From the plain reading of section 3 read with section 2(1)(u) of the PML Act, it is clear that what is made punishable under section 3 is the activity connected with the proceeds of crime either by getting oneself involved in the process or activity connected thereto or directly or indirectly attempting to indulge or knowingly assist or knowingly be a party to the alleged activities and projecting it as untainted property. The prosecution under section 3 of the PML Act cannot be equated with the prosecution under section 13 of the PC Act. Both are distinct and separate offences. A reading of section 3 of PML Act would clearly indicate that even without there being any conviction of the accused in a predicate offence and even if the offender under section 3 of the PML Act is not a party to the predicate offence, still the prosecution could be launched against the offender, if he is found involved in any process or activity connected with the 'proceeds of crime'. Since the allegations made in the complaint and the material produced in support thereof prima facie disclose ingredients of the above offences, the Trial Court was not justified in discharging the accused solely relying on the overruled decisions rendered by the High Court of Jharkhand and Delhi. The material on record clearly makes out sufficient grounds for proceeding against the accused. In that view of the matter, impugned order cannot be sustained. Criminal Revision Petition is allowed.
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