Roop Bansal vs Union of India - 2023 Supreme(P&H) 2861

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2023 Supreme(P&H) 2861

ARUN PALLI, VIKRAM AGGARWAL
Roop Bansal – Appellant
Versus
Union of India – Respondent

Advocates Appeared:
Mr. Abhishek Manu Singhvi, Senior Advocate, Mr. Randeep S. Rai, Senior Advocate, Mr. Chetan Mittal, Senior Advocate, Mr. Aashish Chopra, Senior Advocate Mr. Kunal Dawar, Ms. Rubina Virmani, Mr. Vipul Sharma, Mr. Arjun S.Rai and Mr. Varun Arjun Sharma, Advocates Mr. Varun Aryan Sharma, Mr. Sajal Bansal, Mr. Hargun Sandhu and Mr. Viren Sibal, Advocates; For the Petitioner
Mr. Jagjot Singh Lalli, Deputy Solicitor General and Mr. Lokesh Narang, Senior Panel Counsel, Mr. Simon Benjiamin, SPP, for ED Mr. Gaurav Dutt Sharma, Asstt. Legal Advisor, Ms. Jaya Devi, Legal Consultant, Directorate of Enforcement (Through Hybrid Mode).

JUDGMENT

Mr. Vikram Aggarwal, J.

The petitioner herein has preferred the present Civil Writ Petition praying for the following substantial reliefs:-

(i) In consonance with the ratio laid down by the Hon'ble Supreme Court in "Vijay Madanlal Choudhary v. Union of India & Ors. 2022 SCC Online SC 929" hold that any transaction that may have occurred prior to the coming into existence of the Schedule/Predicate Offence, cannot be covered for the said offence under Prevention of Money Laundering Act, 2002 as "proceeds of crime" defined under Section 2 (1)(u) thereof are dependent on illegal gain of property as a result of criminal activity relating to such scheduled offence and cannot have any independent existence of its own;

(ii) In consonance with the principles laid down by the Hon'ble Supreme Court vide order dated 3.10.2023 passed in Criminal Appeal No.3051-3052 of 2023 in Pankaj Bansal v. Union of India and others quash and set aside the arrest of the petitioner and consequential Arrest Order dated 8.6.2023 (Annexure P-15) as there has been grave violation of the mandatory postulates interdicting and governing the invocation of powers under section 19 of Prevention of Money Launderin