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Hari Narayan Rai Versus Union of India

W.P. (Cr.) No. 325 of 2010 - Dated:- 6-8-2010 - THE ACTING CHIEF JUSTICE For the Petitioner: M/s Biren Poddar, Darshan Poddar, Deepak Sinha and Piyush Poddar For the Respondent: M/s Amit Kumar Das, Charanjeet Mukherjee ORDER 1. I have heard all parties at length. The petitioner is being prosecuted under Section 3 of the Prevention of Money Laundering Act, 2002 (hereinafter called "the Act"). 2. This writ petition has been filed alleging that the prosecution should be quashed, on the gr .....

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All these offences were inserted in the Schedule by the amending Act of the year 2009 with effect from 1.6.2009. For appreciating the argument it is necessary to quote Section 3, section 2 (u) and 2 (v) of the Act : "3. Offence of money-laundering.- Whosoever directly or indirectly attempts to indulge or knowingly assists or knowingly is a party or is actually involved in any process or activity connected with the proceeds of crime and projecting it as untainted property shall be guilty of .....

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r assets, wherever located." 4. According to the learned counsel for the petitioner it is the date when the "proceeds of crime" were acquired/generated which is the relevant date. The argument proceeds further to say that the word "Crime" is in Section 3 means the offences listed in the Schedule. Section 2 (u) of the Act, which defines the phrase "proceeds of crime", has been pressed into service for the above interpretation. 5. Thus in substance, the argument .....

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the date of "laundering" which would be relevant. The "laundering" as used in Section 3 comprises of involvement in any process or activity by which the illicit money is being projected as untainted. 7. Thus, the relevant date is not the date of acquisition of illicit money but the dates on which such money is being processed for projecting it untainted. 8. At this stage we are concerned with the allegations, and not with the consideration whether the allegations will ultima .....

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