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S. M. SUBRAMANIAM, N. MALA
A. Sudha – Appellant
Versus
Assistant Director, Directorate of Enforcement, Government of India, Ministry of Finance, Department of Revenue – Respondent
ORDER :
S.M. SUBRAMANIAM, J.
PRAYER: Criminal Revision is filed under Section 482 of the Code of Criminal Procedure, to call for the records relating to the complaint in C.C.No.60 of 2016 on the file of the VIII Additional District Judge for CBI Cases, Chennai and quash the same as far as the petitioner is concerned.
FACTS OF THE CASE:
The lis on hand has been instituted to quash the Additional/Supplementary complaint filed under Section 45 r/w Sections 3, 4, 8(5) and 70(1)(2) of the Prevention of Money Laundering Act, 2002 (hereinafter referred as PMLA).
2. A Tri-Party Agreement dated 12.11.2007 was executed between A1/Mr.G.Srinivasan, petitioner and petitioner's family and VMT Spinning Mills India Private Limited, whereby, inter-alia, possession of VMT Spinning Mills India Private Limited was handed over to Al/ Mr.G.Srinivasan.
3. Subsequently, a second Tri-Party Agreement was executed on 08.07.2008 between A1/Mr.G. Srinivasan, petitioner and petitioner's family, and VMT Spinning Mills India Private Limited, whereby, inter-alia, it is confirmed that petitioner and petitioner's family have transferred their shareholding in VMT Spinning Mills India Pvt to Al/Mr. G.Srinivasan for a consid
The offence of money laundering under PMLA is independent and continuous, allowing for supplementary complaints based on established proceeds of crime.
The court affirmed that directors can be prosecuted under the Prevention of Money Laundering Act independently of the company's involvement in the complaint, establishing the principle of distinct li....
The trial under the Prevention of Money Laundering Act is independent of any pending trial for the predicate offence, as affirmed by the court.
The Prevention of Money Laundering Act proceedings are independent of the predicate offence and must proceed without delay, reflecting the urgency in addressing economic crimes.
A discharge petition under PMLA requires a prima facie case to be established; if such a case exists, the trial must proceed.
The main legal point established in the judgment is that the PMLA is an independent sui generis Act, and the complainant is required to prove the case independently, without presuming the derivation ....
The main legal point established in the judgment is the wide scope of Section 3 of the Prevention of Money-Laundering Act, 2002 to cover all persons involved in any process or activity connected with....
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