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2024 (2) TMI 734 - SCH - Money LaunderingMoney Laundering - commission of eight predicate offences - proceeds of crime were derived or obtained as a result of any criminal activity relating to scheduled offences or not - HELD THAT:- Prima facie, it is found that nothing is stated therein to even indicate that the proceeds of crime were derived or obtained as a result of any criminal activity relating to scheduled offences. The existence of proceeds of crime as defined in Section 2(u) of the PMLA Act is a condition precedent for the commission of offence of money laundering under Section 3 of the PMLA Act. Therefore, on the basis of material placed on record, as of today, as far as the appellant is concerned, it is found that both the grounds in clause (ii) of sub-section 1 of Section 45 of the PMLA Act have been satisfied in this case. Therefore, the appellant deserves to be enlarged on bail, pending the disposal of the complaint under the PMLA Act - no adjudication made as regards the role played by any other accused in the same complaint. At highest, the allegation against the appellant is of possession of unaccounted money and illegal acquisition of immovable properties. But, prima facie, there is nothing to link the assets of the appellant with the predicate offences. Appeal allowed.
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