In Brief
Anoop Bartaria and World Trade Park Ltd. challenged the dismissal of their petitions seeking to quash an Enforcement Case Information Report (ECIR) and prosecution complaint under the Prevention of Money Laundering Act (PMLA). The petitioners alleged they were innocent real estate businesses unaware that funds received for commercial properties were proceeds of crime. The Supreme Court held that knowledge of dealing with tainted funds is not essential for money laundering liability; actual involvement in activities connected with proceeds of crime suffices. All PMLA offences are cognizable and non-bailable. With sufficient prima facie evidence of the petitioners' involvement in receiving over Rs. 160 crores of defrauded funds, the High Court's dismissal of their quashing petitions was upheld and the criminal proceedings were allowed to continue to trial.
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