In Brief
Pavana Dibbur, an appellant, was accused under Section 3 of the Prevention of Money Laundering Act (PMLA) of conspiring with Madhukar Angur to facilitate the siphoning of university funds through her bank accounts and purchasing properties with alleged proceeds of crime. The High Court upheld the complaint's cognizance. The Supreme Court quashed the complaint, holding that Section 120-B of the Indian Penal Code becomes a scheduled offence only when the conspiracy involves an offence already listed in the PMLA Schedule. Since the chargesheets lacked such conspiracy allegations, no scheduled offence existed, and consequently no proceeds of crime could be identified. The Court allowed the appeal and set aside the High Court's order.
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