KERALA HC PMLA JUDGMENT ED POWERS

The ED does not necessarily require a predicate offence — an FIR registered for any scheduled offence by any enforcement agency — to initiate a probe under the Prevention of Money Laundering Act (PMLA).

While vacating a stay on the ED probe against Cochin Minerals and Rutile Limited (CMRL), a public listed company of Kerala State Industrial Development Corporation, the Kerala High Court on Tuesday dismissed a petition of CMRL on the grounds that ED’s money laundering probe is independent of the existence of a schedule offence.

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