ARTICLE · 15 MAY 2024

Prosecutions Under PMLA: Provisions And Key Issues

Metalegal Advocates

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The Prevention of Money Laundering, 2002 (‘PMLA') is the fundamental special legislation dealing with money laundering in India.

IndiaGovernment, Public Sector

Jitin Bharadwaj

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Introduction

The Prevention of Money Laundering, 2002 ('PMLA') is the fundamental special legislation dealing with money laundering in India. The legislation follows the international legislative mandate to curb and enforce offences of money laundering. The penalties provided in the law include criminal prosecution leading to punishment and attachment and confiscation of properties. The law adopts the Code of Criminal Procedure, 1973 ('CrPC') with respect to the procedural law that is to be followed to prosecute an offender¹. However, such a procedure is adopted by CrPC to the extent that they are consistent with the provisions of the PMLA. Thus, the procedure followed in money laundering prosecutions is a combination of CrPC and PMLA and thus requires a conjoint reading and application. This article attempts to examine and analyze criminal prosecutions conducted in cases and trials dealing with the offence of money laundering, keeping in mind such

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