Once established that no cheating involved in IPC than there is no money laundering under PMLA

Rakesh Brijlal Jain and Ors. Vs State of Maharashtra and Ors. (Bombay High Court) Bombay High Court held that once it is established that there is no cheating involved under the IPC then there is no proceeds of crime involved u/s. 2(1)(u) of PMLA and therefore there is no Money Laundering involved under Section 3 of PMLA in the present case. Facts- This Criminal Revision Application No.379 of 2016 challenges legality and validity of the impugned order dated 08.08.2014, issuing process passed by the learned Special Judge, Mumbai under the Prevention of Money Laundering Act, 2002, and seeks sett...