
Praveen Kumar
June 21, 2025 at 12:51 PM
*Pradeep Nirankarnath Sharma V. ED (2025 SC)*
1. Appellant contends that the alleged acts do not constitute an offence under the PMLA as the same was not in force during the relevant time period of the acts.
2. SC held that the offences under the PMLA are of a continuing nature, and the act of money laundering does not conclude with a single instance, but extends so long as the proceeds of crime are concealed, used, or projected as untainted property. The legislative intent behind the PMLA is to combat the menace of money laundering, which by its very nature involves transactions spanning over time.
Note: The issue of retrospectivity of the PMLA is pending before the SC in *ED V. M/s Obulapuram Minining Co. Pvt Ltd*.
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