ED cannot proceed for offences under PMLA as FIR in predicate offence is stayed

Anil Kumar Aggarwal Vs Enforcement Directorate th. its Assistant Director (Jammu & Kashmir High Court) Jammu & Kashmir HC held that that it was not open to the respondent-Enforcement Directorate to proceed against the petitioner in respect of offences under PMLA once the FIR in respect of the predicate offences had been stayed by the High Court. Facts- The State Bank of India, the Consortium Leader of the Banks from which M/s Bharat Paper Limited (BPL), of which the petitioner was one of the directors, had obtained loan, filed a complaint before the Central Bureau of Investigation(CBI)...