ED Can Treat Coal Block Allocation Obtained Through Deceit as ‘Property’ Involved in Money Laundering: Delhi High Court

The Delhi High Court, in a significant ruling, has held that a coal block allocation secured through fraud or misrepresentation amounts to proceeds of crime under Section 2(1)(u) of the Prevention of Money Laundering Act, 2002 (PMLA). The Court clarified that the financial benefits accrued from such an allocation—such as profits from coal extraction and sale—are part of the illegal economic chain that constitutes money laundering under Section 3 of…