Foreign Recipients of Crime Proceeds Not Immune Solely Due to Contractual Legitimacy, Clarifies Vijay Madanlal Judgment: Delhi High Court
The Delhi High Court has firmly stated that foreign recipients of proceeds of crime are not beyond the scope of the Prevention of Money Laundering Act, 2002, merely because their transactions appear contractually legitimate. The ruling came in the matter of Amrit Pal Singh, a resident of Hong Kong for the past 17 years, who is being probed by the Enforcement Directorate (ED) for receiving fraudulent remittances from Indian shell…
