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Bid to acquire ill-gotten gains not money laundering: Court
The Morning Standard
|December 26, 2024
A Delhi court has declined to take cognisance of a chargesheet against Adhunik Corporation Limited (ACL) and its two directors, Mahesh Kumar Agarwal and Nirmal Kumar Agarwal, in a coal scam case filed by the Enforcement Directorate (ED).
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The court held that merely attempting to acquire proceeds of crime or anticipating undue benefits does not constitute money laundering under the Prevention of Money Laundering Act (PMLA).
Special Judge Arun Bhardwaj provided relief to ACL and its directors in the case linked to the allocation of the New Patra Para coal block in Odisha.
This story is from the December 26, 2024 edition of The Morning Standard.
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