PMLA | Money Laundering Charge Requires Identifiable 'Proceeds of Crime' Linked to Scheduled Offence; Bail Granted: Allahabad High Court

The Allahabad High Court has granted bail to an accused in a case registered under the Prevention of Money Laundering Act, 2002 (PMLA), holding that at the stage of deciding the bail application, the prosecution had failed to establish identifiable proceeds of crime arising from a scheduled offence. The Court observed that merely alleging possession of assets from an unexplained source is not sufficient to attract the provisions of the…