Offence under PMLA includes ‘Scheduled Offence’ & ‘Offence of money-laundering’

Fairdeal Supplies Limited & Anr.Vs. Union of India & Ors. (Calcutta High Court) (i) On a plain reading of Section 2(1)(y) and Section 3 of the PMLA , it appears to me that the legislature has bifurcated the offence under PMLA into “Scheduled Offence” and “Offence of money-laundering”. “Scheduled Offence” are provided in Part A of the schedule to PMLA which takes into its sweep offences under various statutes. Scheduled Offence also includes offences specified under Part B and Part C of the Schedule to PMLA. (ii) The offence of money-laundering on the other hand is clearly s...