ORDER :

1. This Criminal Petition, under Section 482 of the Code of Criminal Procedure, 1973, is filed by the petitioner, seeking to quash the complaint and investigation in ECIR/05/HYZO/2014, dated 25.02.2014 on the file of Joint Director, Enforcement Directorate, Hyderabad Zonal Office, Hyderabad.

2. Heard the submissions of Sri M.P. Chandramouli, learned senior counsel and Sri Dil Jit Singh Ahluwalia, learned counsel, appearing on behalf of Sri H.Rajesh Kumar, learned counsel for the petitioner, Sri T. Surya Karan Reddy, learned Additional Solicitor General of India appearing on behalf of respondent No. 1, Sri Manu, learned counsel for respondent No. 2 and perused the record.

3. Learned senior counsel appearing on behalf of the petitioner would inter alia submit that the petitioner is the Director of M/s. MBS Group of companies. The subject ECIR registered against the petitioner and others is liable to be quashed, as the ingredients of Section 3 of Prevention of Money Laundering Act, 2002 (for short ‘PMLA’) are not made out. Sine qua non for Section 3 of PMLA is, firstly, it has to be connected to ‘proceeds of crime’, as defined under Section 2(u) of PMLA and secondly, it has to be